Keysight Technologies Announces Pricing of Public Offering of Senior Unsecured Notes
Keysight Technologies (NYSE: KEYS) has announced the pricing of a public offering of senior unsecured fixed rate notes totaling $600 million. The notes, set to mature in 2034, will bear an annual interest rate of 4.950%. The offering is expected to close on October 9, 2024, subject to customary conditions.
Keysight plans to use the net proceeds for general corporate purposes, including repaying its outstanding $600 million of 4.55% senior notes due October 30, 2024. The offering is being made through an effective shelf registration statement filed with the SEC, with BNP Paribas Securities Corp., Citigroup Global Markets Inc., and BofA Securities, Inc. serving as joint lead book-running managers.
Keysight Technologies (NYSE: KEYS) ha annunciato il prezzo di un'offerta pubblica di obbligazioni senior non garantite a tasso fisso per un totale di $600 milioni. Le obbligazioni, con scadenza prevista nel 2034, avranno un tasso di interesse annuo del 4.950%. Si prevede che l'offerta si chiuda il 9 ottobre 2024, soggetta a condizioni di prassi.
Keysight prevede di utilizzare i proventi netti per scopi aziendali generali, inclusa la restituzione dei 600 milioni di dollari di note senior con un tasso del 4,55% in scadenza il 30 ottobre 2024. L'offerta viene effettuata tramite una dichiarazione di registrazione sul mercato shelf efficace depositata presso la SEC, con BNP Paribas Securities Corp., Citigroup Global Markets Inc. e BofA Securities, Inc. che fungono da gestori principali congiunti.
Keysight Technologies (NYSE: KEYS) ha anunciado el precio de una oferta pública de notas senior no garantizadas a tipo fijo por un total de $600 millones. Las notas, que vencerán en 2034, tendrán una tasa de interés anual del 4.950%. Se espera que la oferta se cierre el 9 de octubre de 2024, sujeto a condiciones habituales.
Keysight planea utilizar los ingresos netos para fines corporativos generales, incluyendo el reembolso de su deuda pendiente de $600 millones en notas senior a un 4.55% que vencen el 30 de octubre de 2024. La oferta se realiza a través de una declaración de registro en estante efectiva presentada a la SEC, con BNP Paribas Securities Corp., Citigroup Global Markets Inc. y BofA Securities, Inc. como gerentes principales conjuntos.
Keysight Technologies (NYSE: KEYS)는 $600백만에 해당하는 고정 이자율의 무담보 고급 채권 공개 발행 가격을 발표했습니다. 만기가 2034년인 이 채권은 연간 이자율 4.950%를 적용받습니다. 이 발행은 2024년 10월 9일에 완료될 예정이며, 관행적인 조건이 적용됩니다.
Keysight는 순수익을 일반 기업 목적으로 사용하고, 2024년 10월 30일 만기인 4.55% 고급 채권 6억 달러의 상환에 사용합니다. 이 발행은 SEC에 등록된 유효한 선반 등록 성명을 통해 이루어지며, BNP Paribas Securities Corp., Citigroup Global Markets Inc. 및 BofA Securities, Inc.가 공동 주관사로 참여합니다.
Keysight Technologies (NYSE: KEYS) a annoncé le prix d'une offre publique de billets à ordre senior non garantis et à taux fixe d'un montant total de $600 millions. Les billets, qui arriveront à échéance en 2034, porteront un taux d'intérêt annuel de 4,950%. L'offre devrait être finalisée le 9 octobre 2024, sous réserve des conditions habituelles.
Keysight prévoit d'utiliser les produits nets à des fins corporatives générales, y compris le remboursement de ses 600 millions de dollars de billets à ordre senior à 4,55 % arrivant à échéance le 30 octobre 2024. L'offre est faite par l'intermédiaire d'un registre de shelf efficace déposé auprès de la SEC, avec BNP Paribas Securities Corp., Citigroup Global Markets Inc. et BofA Securities, Inc. agissant en tant que co-dirigeants de livre.
Keysight Technologies (NYSE: KEYS) hat die Preisfestsetzung für ein öffentliches Angebot von senior unbesicherten Festverzinslichen Anleihen in Höhe von $600 Millionen bekannt gegeben. Die Anleihen, die im 2034 fällig werden, werden mit einem jährlichen Zinssatz von 4,950% versehen sein. Das Angebot soll am 9. Oktober 2024, vorbehaltlich der üblichen Bedingungen, abgeschlossen werden.
Keysight plant, den Nettoproceeds für allgemeine Unternehmenszwecke zu verwenden, einschließlich der Rückzahlung seiner ausstehenden 600 Millionen Dollar an 4,55% senior Anleihen, die am 30. Oktober 2024 fällig werden. Das Angebot erfolgt über eine wirksame Shelf-Registrierungsantrag, der bei der SEC eingereicht wurde, mit BNP Paribas Securities Corp., Citigroup Global Markets Inc. und BofA Securities, Inc. als gemeinsame Hauptbuchmanager.
- Successful pricing of $600 million senior unsecured notes offering
- Proceeds to be used for repaying existing debt, potentially improving financial structure
- Relatively long-term maturity (2034) provides financial flexibility
- Increase in long-term debt obligations
- Higher interest rate (4.950%) compared to existing notes (4.55%), potentially increasing interest expenses
Insights
Keysight's
- The
4.950% interest rate for the 2034 maturity notes is relatively competitive in the current market environment. - This offering essentially refinances the existing
$600 million of4.55% notes due in October 2024, suggesting a proactive approach to debt management. - While the slightly higher interest rate may increase interest expenses, it provides long-term financial stability by extending the debt maturity to 2034.
- The use of multiple reputable underwriters indicates strong market confidence in Keysight's creditworthiness.
- This move doesn't significantly alter Keysight's capital structure but demonstrates prudent financial planning.
Overall, this refinancing should be viewed as a neutral to slightly positive development, ensuring Keysight maintains financial flexibility without substantially increasing its debt burden.
Keysight intends to use the net proceeds from the Offering for general corporate purposes, including to repay its outstanding
BNP Paribas Securities Corp., Citigroup Global Markets Inc. and BofA Securities, Inc. are the joint lead book-running managers for the Offering. Barclays Capital Inc. and J.P. Morgan Securities LLC are also book-running managers for the Offering.
The Offering is being made pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission (“SEC”) and will be made only by means of a prospectus supplement relating to such Offering and the accompanying base shelf prospectus, copies of which may be obtained by contacting: BNP Paribas Securities Corp., 787 Seventh Avenue, 3rd Floor,
This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the 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 state or jurisdiction.
About Keysight Technologies
At Keysight (NYSE: KEYS), we inspire and empower innovators to bring world-changing technologies to life. As an S&P 500 company, we’re delivering market-leading design, emulation, and test solutions to help engineers develop and deploy faster, with less risk, throughout the entire product lifecycle. We’re a global innovation partner enabling customers in communications, industrial automation, aerospace and defense, automotive, semiconductor, and general electronics markets to accelerate innovation to connect and secure the world.
Forward-Looking Statements
This communication contains forward-looking statements as defined in the Securities Exchange Act of 1934 and is subject to the safe harbors created therein. The words “intend,” “will,” and similar expressions, as they relate to Keysight, are intended to identify forward-looking statements. These forward-looking statements involve risks and uncertainties that could significantly affect the expected results and are based on certain key assumptions of Keysight’s management and on currently available information. Due to such uncertainties and risks, no assurances can be given that such expectations or assumptions will prove to have been correct, and readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. Keysight undertakes no responsibility to publicly update or revise any forward-looking statement. The forward-looking statements contained herein include, but are not limited to, Keysight’s expectations regarding the completion and timing of the proposed offering and use of proceeds. Such risks and uncertainties include, but are not limited to, market conditions and the satisfaction of customary closing conditions related to the proposed offering.
In addition to the risks above, other risks that Keysight faces include those detailed in Keysight’s filings with the SEC, including Keysight’s annual report on Form 10-K for the period ended October 31, 2023 and Keysight’s quarterly reports on Form 10-Q for the periods ended April 30, 2024 and July 31, 2024.
Source: IR-KEYS
View source version on businesswire.com: https://www.businesswire.com/news/home/20241002938705/en/
INVESTOR CONTACT:
Jason Kary
+1 707-577-6916
jason.kary@keysight.com
MEDIA CONTACT:
Claire Rowberry
+ 1 339-200-9518
claire.rowberry@non.keysight.com
Source: Keysight Technologies, Inc.
FAQ
What is the size and interest rate of Keysight's (KEYS) new senior notes offering?
When will Keysight's (KEYS) new senior notes mature?
What is the expected closing date for Keysight's (KEYS) senior notes offering?
How does Keysight (KEYS) plan to use the proceeds from the senior notes offering?
