Amphenol Corporation, a global leader in electrical, electronic, and fiber optic connectors, has announced the pricing of its offering of senior notes due 2027, 2029, and 2034. The 2027 notes will have an interest rate of 5.050% per annum, the 2029 notes will also have an interest rate of 5.050% per annum, and the 2034 notes will carry an interest rate of 5.250% per annum.
The company intends to use the net proceeds from the offering, combined with cash on hand and other debt financing, to fund the pending acquisition of the Carlisle Interconnect Technologies business of Carlisle Companies Incorporated (the "CIT Acquisition"), as well as to cover related fees and expenses. Any remaining proceeds will be allocated for general corporate purposes.
The offering is subject to a special mandatory redemption under certain circumstances if the CIT Acquisition is not consummated or is not completed by an agreed-upon date.
BofA Securities, Citigroup Global Markets Inc., J.P. Morgan Securities LLC, and TD Securities (USA) LLC are serving as the joint book-running managers for the offering.
Amphenol Corporation operates in approximately 40 countries worldwide and sells its products through its global sales force, independent representatives, and a network of electronics distributors. The company has a diversified presence in high-growth areas of the interconnect market, including automotive, broadband communications, commercial aerospace, defense, industrial, information technology and data communications, mobile devices, and mobile networks. Today the company's shares have moved 0.7% to a price of $113.84. Check out the company's full 8-K submission here.
