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Agilent Prices $300M Senior Notes Offering

NEW YORK (GenomeWeb) – Agilent Technologies has priced its senior notes offering at $300 million.

The notes will mature in September 2026 and will bear interest at an annual rate of 3.050 percent, the firm said. Agilent expects the offering to close on Sept. 22, subject to customary closing conditions.

In a document filed yesterday with the US Securities and Exchange Commission as a supplement to a prospectus dated Feb. 12, the company announced plans for the offering, and said the notes would be issued in minimum denominations of $2,000 and at increments of $1,000 beyond that.

In a statement, Agilent said it intends to use the proceeds to repay "all amounts outstanding under its revolving credit facility and for general corporate purposes."

BNP Paribas, Citigroup, and Credit Suisse will act as joint book-running managers. Barclays, HSBC, Lloyds Securities, and Wells Fargo Securities will act as co-managers.

According to Agilent's Form 10-Q filed Sept. 7, the company had borrowings of $235 million outstanding under a five-year revolving credit facility as of July 31, expiring in September 2019. As reported by GenomeWeb, in July 2015, the firm increased the credit facility to $700 million from $400 million.

Agilent's shares fell nearly 1 percent to $45.07 in morning trading on the New York Stock Exchange.