Jabil Announces Pricing of $300 Million Aggregate Principal Amount of 5.450% Senior Notes Due 2029

Rhea-AI Summary

Jabil Inc. (NYSE: JBL) announced the pricing of its $300 million offering of 5.450% Senior Notes due 2029 on April 10, 2023. The closing is expected to occur on April 13, 2023, pending customary conditions. The proceeds will be used for general corporate purposes, specifically to repay $300 million of 4.900% Senior Notes due 2023 at or before maturity. Jabil employs over 250,000 people across 100 locations globally, providing manufacturing solutions for leading brands. The company has filed a registration statement with the SEC regarding this offering, and it includes forward-looking statements about the anticipated closing and use of proceeds.

ST. PETERSBURG, Fla.--(BUSINESS WIRE)-- Jabil Inc. (NYSE: JBL) (“Jabil”) announced the pricing of its offering of $300 million aggregate principal amount of its 5.450% Senior Notes due 2029 (the “Offering”) on April 10, 2023. Jabil anticipates that the closing of the Offering will occur on April 13, 2023, subject to customary closing conditions. Jabil intends to use the net proceeds from the Offering for general corporate purposes, including, together with available cash, the repayment of $300 million aggregate principal amount 4.900% Senior Notes due 2023 at or prior to maturity.

About Jabil:

Jabil (NYSE: JBL) is a manufacturing solutions provider with over 250,000 employees across 100 locations in 30 countries. The world's leading brands rely on Jabil's unmatched breadth and depth of end-market experience, technical and design capabilities, manufacturing know-how, supply chain insights and global product management expertise. Driven by a common purpose, Jabil and its people are committed to making a positive impact on their local community and the environment. Visit www.jabil.com to learn more.

Additional Information:

Jabil has filed a registration statement (including a prospectus) and a prospectus supplement with the Securities Exchange Commission (the “SEC”) relating to the Offering. This release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Any offering of securities will be made only by means of the prospectus in that registration statement and the related prospectus supplement. These documents can be obtained for free by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, Jabil will arrange to send you the prospectus and related prospectus supplement if you request them by contacting Jabil at (727) 577-9749 or 10800 Roosevelt Boulevard North, St. Petersburg, Florida, 33716.

This news release contains forward-looking statements, including those regarding the anticipated closing of the Offering and the anticipated use of proceeds. The statements in this release are based on current expectations, forecasts and assumptions involving risks and uncertainties that could cause actual outcomes and results to differ materially from current expectations. Factors that could cause such differences can be found in Jabil’s Annual Report on Form 10-K for the fiscal year ended August 31, 2022 and Jabil’s other filings with the SEC. Jabil assumes no obligation to update these forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230411005642/en/

Investor Contact:

Adam Berry

Vice President, Investor Relations

adam_berry@jabil.com

Source: Jabil, Inc.

FAQ

What is the amount of Jabil's Senior Notes offering?

Jabil is offering $300 million of 5.450% Senior Notes due 2029.

When is the expected closing date for Jabil's offering?

The expected closing date for Jabil's offering is April 13, 2023.

What will Jabil do with the proceeds from the offering?

Jabil plans to use the proceeds to repay $300 million of 4.900% Senior Notes due 2023 and for general corporate purposes.

What is the interest rate on the Senior Notes offered by Jabil?

The Senior Notes being offered by Jabil have an interest rate of 5.450%.

What financial information was included in Jabil's press release?

The press release provides details about the note offering, amount, interest rate, and repayment plans but does not include specific financial metrics.