debt
confidence high
sentiment neutral
materiality 0.65
AptarGroup issues $400M 3.600% senior notes due 2032, assumes €300M in subsidiary notes
APTARGROUP, INC.
- Issued $400M aggregate principal of 3.600% Senior Notes due March 15, 2032, with semi-annual interest.
- Assumed €100M 0.98% Notes due 2023 and €200M 1.17% Notes due 2024 from subsidiary AGUK, effective March 1, 2022.
- Notes are unsecured, rank equally with other senior unsecured debt; callable at make-whole before Dec 15, 2031.
- Change-of-control trigger allows holders to require repurchase at 101% of principal plus accrued interest.
- Underwriting agreement with BofA, HSBC, JPMorgan, Wells Fargo; offering under Form S-3 shelf registration.