Agilent Technologies Announces Proposed Offering of Senior Notes

Rhea-AI Summary

Agilent Technologies Inc. (NYSE:A) has announced an offering of senior notes under an automatic shelf registration statement, subject to market conditions. The net proceeds will be used to redeem its 3.20% senior notes due in 2022, reduce borrowings under its commercial paper program, and for general corporate purposes. The final terms, including interest rates and maturity, will be determined at the time of pricing. Barclays Capital, Citigroup, and J.P. Morgan are the joint book-running managers for this offering.

Positive

• Intended use of proceeds for debt redemption and lowering borrowings, which can improve financial stability.

Negative

• The potential dilution of existing shareholders due to the issuance of new senior notes.

Agilent Technologies Inc. (NYSE:A) today announced it is offering, subject to market and other conditions, a series of senior notes under an automatic shelf registration statement on file with the Securities and Exchange Commission. Actual terms of the notes, including interest rate, principal amount, and maturity, will depend on market conditions at the time of pricing.

Agilent intends to use the net proceeds from the offering to fund the redemption of its 3.20% senior notes due 2022 (the “2022 notes”), to pay down borrowings under its commercial paper program and for general corporate purposes.

Barclays Capital Inc., Citigroup Global Markets Inc. and J.P. Morgan Securities LLC are acting as joint book-running managers.

The offering of securities may be made only by means of a prospectus supplement and accompanying prospectus. Copies of the prospectus supplement and the accompanying prospectus can be obtained from:

Barclays Capital Inc.
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Email: barclaysprospectus@broadridge.com
Telephone: 1-888-603-5847

Citigroup Global Markets Inc.
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, New York 11717
Telephone: 1-800-831-9146
Email: prospectus@citi.com

J.P. Morgan Securities LLC
c/o Broadridge Financial Solutions
Attn: Prospectus Department
1155 Long Island Avenue
Edgewood, NY 11717
Telephone: 1-866-803-9204

Electronic copies of the prospectus supplement and accompanying prospectus are or will be available for free by visiting EDGAR on the Securities and Exchange Commission website at www.sec.gov.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the securities nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This press release also does not constitute a notice of redemption under the indenture governing the 2022 notes.

About Agilent Technologies

Agilent Technologies Inc. (NYSE: A) is a global leader in life sciences, diagnostics, and applied chemical markets, delivering insight and innovation toward improving the quality of life. Agilent instruments, software, services, solutions, and people provide trusted answers to customers' most challenging questions.

Forward-Looking Statements

This release contains “forward-looking statements” within the meaning of the federal securities laws, including with respect to Agilent’s proposed senior notes offering and the anticipated use of the net proceeds therefrom, including the redemption of its 2022 notes. Forward-looking statements are typically identified by words or phrases such as “will,” “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” “target,” “forecast,” and other words and terms of similar meaning. These statements are subject to significant risks and uncertainties, including, without limitation, risks and uncertainties related to economic, market or business conditions and satisfaction of customary closing conditions related to the public offering. No assurance can be given that the securities offering discussed above will be consummated on the terms described or at all. Except as required by law, Agilent expressly disclaims any obligation to publicly revise any forward-looking statements contained in this news release to reflect the occurrence of events after the date of this news release.

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FAQ

What is Agilent Technologies' recent offering related to?

Agilent Technologies is offering senior notes to redeem existing debt, reduce borrowings, and fund general corporate purposes.

Who are the managers for Agilent's senior notes offering?

Barclays Capital, Citigroup Global Markets, and J.P. Morgan Securities are the joint book-running managers.

What will Agilent use the proceeds from the senior notes for?

The proceeds will be used to redeem its 3.20% senior notes due 2022, pay down commercial paper borrowings, and for general corporate purposes.

Is there any risk associated with Agilent's senior notes offering?

Yes, there is a risk of dilution for existing shareholders due to the issuance of new notes.