(RTTNews) - Waters Corp. (WAT), an analytical laboratory instrument and software company, on Wednesday, priced a $3.5 billion multi-tranche senior notes offering through its subsidiary Augusta SpinCo Corp.
The offering includes five tranches of senior notes ranging from 2027 to 2036 maturities, with coupon rates between 4.321% and 5.245%, all issued at par.
The offering is expected to close on March 23.
The company intends to use the net proceeds, along with cash on hand, to repay $3.5 billion of debt under a delayed draw term loan incurred in February.
In the pre-market trading. Waters Corp. is 0.15% higher at $297.41 on the New York Stock Exchange.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
