Walgreens Boots Alliance Announces Pricing of $750,000,000 of Senior Unsecured Notes
Walgreens Boots Alliance (Nasdaq: WBA) has announced the pricing of a $750 million underwritten public offering of senior unsecured notes, due in 2029 with an interest rate of 8.125%. The sale is expected to close on August 12, 2024, subject to customary conditions. WBA plans to use the net proceeds, along with cash on hand, to repay or retire its outstanding 3.800% notes due in 2024, with any remaining funds allocated for general corporate purposes. The joint book-running managers for the offering are J.P. Morgan Securities , Wells Fargo Securities, , and BofA Securities, Inc.
Walgreens Boots Alliance (Nasdaq: WBA) ha annunciato il prezzo di un'offerta pubblica garantita di 750 milioni di dollari di note senior non garantite, in scadenza nel 2029 con un tasso d'interesse del 8.125%. Si prevede che la vendita si concluda il 12 agosto 2024, soggetta a condizioni consuete. WBA prevede di utilizzare il ricavato netto, insieme alla liquidità disponibile, per rimborsare o estinguere le sue note 3.800% in scadenza nel 2024, con eventuali fondi rimanenti destinati a scopi aziendali generali. I gestori dell'offerta sono J.P. Morgan Securities, Wells Fargo Securities e BofA Securities, Inc.
Walgreens Boots Alliance (Nasdaq: WBA) ha anunciado el precio de una oferta pública garantizada de 750 millones de dólares de bonos senior no garantizados, con vencimiento en 2029 y una tasa de interés del 8.125%. Se espera que la venta se cierre el 12 de agosto de 2024, sujeto a las condiciones habituales. WBA planea utilizar los ingresos netos, junto con el efectivo disponible, para reembolsar o cancelar sus notas 3.800% que vencen en 2024, destinando cualquier fondo restante a fines corporativos generales. Los gestores de la oferta son J.P. Morgan Securities, Wells Fargo Securities y BofA Securities, Inc.
월그린 부츠 얼라이언스 (Nasdaq: WBA)는 이자가 8.125%인 2029년 만기 비담보 고위험 채권 7억 5천만 달러의 공모가를 발표했습니다. 판매는 2024년 8월 12일에 마감될 것으로 예상되며, 일반적인 조건에 따릅니다. WBA는 순수익금과 현금을 사용하여 2024년에 만기되는 3.800% 채권을 상환 또는 매각할 계획이며, 남은 자금은 일반 기업 용도로 사용할 예정입니다. 이번 공모의 공동 주관사는 J.P. Morgan Securities, Wells Fargo Securities 및 BofA Securities, Inc.입니다.
Walgreens Boots Alliance (Nasdaq: WBA) a annoncé le prix d'une émission publique garantie de 750 millions de dollars d'obligations senior non sécurisées, arrivant à échéance en 2029 avec un taux d'intérêt de 8,125%. La vente devrait se clore le 12 août 2024, sous réserve des conditions habituelles. WBA prévoit d'utiliser le produit net, avec les liquidités disponibles, pour rembourser ou racheter ses obligations à 3,800% arrivant à échéance en 2024, les fonds restants étant destinés à des fins générales de l'entreprise. Les gestionnaires de livre associés pour l'émission sont J.P. Morgan Securities, Wells Fargo Securities et BofA Securities, Inc.
Walgreens Boots Alliance (Nasdaq: WBA) hat den Preis für ein 750 Millionen US-Dollar schweres öffentliches Angebot von unbesicherten vorrangigen Anleihen mit einem Fälligkeitsdatum im Jahr 2029 und einem Zinssatz von 8,125% bekannt gegeben. Der Verkauf wird voraussichtlich am 12. August 2024 abgeschlossen, vorbehaltlich üblicher Bedingungen. WBA plant, die Nettoerlöse zusammen mit vorhandenen Barmitteln zu verwenden, um ihre 3,800%-Anleihen mit Fälligkeit 2024 zurückzuzahlen oder zu tilgen, wobei verbleibende Mittel für allgemeine Unternehmenszwecke verwendet werden. Die Joint Bookrunner für das Angebot sind J.P. Morgan Securities, Wells Fargo Securities und BofA Securities, Inc.
- Successful pricing of $750 million in senior unsecured notes
- Opportunity to refinance existing debt at a higher interest rate
- Potential improvement in debt structure and maturity profile
- Higher interest rate of 8.125% compared to the 3.800% notes being repaid
- Increase in long-term debt obligations
Walgreens Boots Alliance's
However, the successful pricing demonstrates investor confidence in WBA's ability to service this debt. The move provides liquidity for upcoming maturities, reducing near-term refinancing risk. Investors should monitor how efficiently WBA utilizes any excess cash for "general corporate purposes" to offset the higher interest burden.
This debt offering by Walgreens Boots Alliance reflects broader market trends of companies securing longer-term financing in a rising interest rate environment. The
For the retail pharmacy sector, this move suggests ongoing challenges and the need for financial flexibility. Investors should consider how WBA's increased debt service costs might affect its competitive position against rivals like CVS Health. The market's reception to this offering could provide insights into investor sentiment towards the pharmacy retail sector as a whole.
The sale of the notes is expected to close on August 12, 2024, subject to customary closing conditions. WBA intends to use the net proceeds from the offering, together with cash on hand, for the repayment and/or retirement of its outstanding
The joint book-running managers for the offering are: J.P. Morgan Securities LLC, Wells Fargo Securities, LLC and BofA Securities, Inc.
This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
These securities are being offered pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission (“SEC”). The offering may be made only by means of a prospectus and related prospectus supplement, copies of which may be obtained on the SEC website at http://www.sec.gov or by contacting J.P. Morgan Securities LLC, c/o Broadridge Solutions, 1155 Long Island Avenue,
About Walgreens Boots Alliance
Walgreens Boots Alliance (Nasdaq: WBA) is an integrated healthcare, pharmacy and retail leader serving millions of customers and patients every day, with a 170-year heritage of caring for communities.
A trusted, global innovator in retail pharmacy with approximately 12,500 locations across the
WBA employs more than 330,000 people and has a presence in eight countries through its portfolio of consumer brands: Walgreens, Boots, Duane Reade, the No7 Beauty Company and Benavides in
The Company is proud of its contributions to healthy communities, a healthy planet, an inclusive workplace and a sustainable marketplace. WBA has been recognized for its commitment to being an inclusive workplace. In fiscal 2023, the Company received a score of 100 from the Human Rights Campaign’s Corporate Equality Index, scored 100 percent on the Disability Equality Index for disability inclusion and was named Disability:IN’s 2023 Employer of the Year. In addition, WBA has been recognized for its commitment to operating sustainably as the company is an index component of the Dow Jones Sustainability Indices (DJSI).
Cautionary Note Regarding Forward Looking Statements
All statements in this press release that are not historical are forward-looking statements for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are based on current expectations, estimates, forecasts and projections about our future performance, our business, our beliefs and our management's assumptions. Some of these forward-looking statements may be based on certain data and forecasts relating to our business and industry that we have obtained from internal surveys, market research, publicly availably information and industry publications. Industry publications, surveys and market research generally state that the information they provide has been obtained from sources believed to be reliable, but that the accuracy and completeness of such information is not guaranteed. These forward-looking statements include all statements other than statements of historical facts contained or incorporated by reference herein and therein, including statements regarding the Company's future operations, financial or operating results, capital allocation, anticipated debt levels and ratios, future earnings, planned activities, anticipated growth, goodwill impairment, market opportunities, strategies, competition, and other expectations and targets for future periods. Words such as “expect,” “outlook,” “forecast,” “would,” “could,” “should,” “can,” “will,” “project,” “intend,” “plan,” “goal,” “opportunity,” “guidance,” “projection,” “target,” “aim,” “continue,” “transform,” “strive,” “enable,” “create,” “position,” “accelerate,” “model,” “long-term,” “believe,” “seek,” “estimate,” “anticipate,” “may,” “possible,” “assume,” “potential,” “preliminary,” and variations of such words and similar expressions are intended to identify such forward-looking statements.
These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions, known or unknown, that could cause actual results to vary materially from those indicated or anticipated. These risks, assumptions and uncertainties include, but are not limited to, those described in sections entitled “Item 1A. Risk Factors” in our most recent Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q for the quarters ended February 29, 2024 and May 31, 2024 and in other documents that we file with the SEC. If one or more of these risks or uncertainties materializes, or if underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. All forward looking statements we make or that are made on our behalf are qualified by these cautionary statements. Accordingly, you should not place undue reliance on these forward-looking statements, which speak only as of the date they are made.
We do not undertake, and expressly disclaim, any duty or obligation to update publicly any forward-looking statement after the date of this press release, whether as a result of new information, future events, changes in assumptions or otherwise.
(WBA-GEN)
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Source: Walgreens Boots Alliance
FAQ
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