WATERS CORP /DE/ (WAT): debt financing — Waters Corp issues $100M in 4.91% senior notes; establishes $400M private shelf facility

WATERS CORP /DE/

Issued $50M Series P 4.91% notes due 2028 and $50M Series Q 4.91% notes due 2030 to PGIM and purchasers.
Multi-currency private shelf facility allows up to $400M total notes outstanding, including existing $122M in other series.
Proceeds for general corporate purposes including debt repayment, share repurchases, capex, and acquisitions.
Covenants include leverage ratio ≤3.50:1.00 and interest coverage ratio ≥3.50:1.00.
Shelf notes can be issued in USD, EUR, or GBP; issuance period ends three years from signing.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

WATERS CORP /DE/ incurred senior notes of $50,000,000 with PGIM, Inc. and the purchasers listed on Schedules A-1 and A-2 at 4.91% maturing May 11, 2028.

Instrument: senior notes
Principal: $50,000,000
Counterparty: PGIM, Inc. and the purchasers listed on Schedules A-1 and A-2
Rate: 4.91%
Maturity: May 11, 2028
Event: incurrence

Exact text from the filing

$50,000,000 aggregate principal amount of 4.91% Senior Guaranteed Notes, Series P, due May 11, 2028

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

WATERS CORP /DE/ incurred senior notes of $50,000,000 with PGIM, Inc. and the purchasers listed on Schedules A-1 and A-2 at 4.91% maturing May 11, 2030.

Instrument: senior notes
Principal: $50,000,000
Counterparty: PGIM, Inc. and the purchasers listed on Schedules A-1 and A-2
Rate: 4.91%
Maturity: May 11, 2030
Event: incurrence

Exact text from the filing

$50,000,000 aggregate principal amount of 4.91% Senior Guaranteed Notes, Series Q, due May 11, 2030

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

WATERS CORP /DE/ entered into Multi-Currency Note Purchase and Private Shelf Agreement with PGIM, Inc. and the purchasers listed on Schedules A-1 and A-2 valued at $400,000,000 (effective 2023-05-11).

Action: entry
Agreement: notes offering
Counterparty: PGIM, Inc. and the purchasers listed on Schedules A-1 and A-2
Value: $400,000,000
Effective: 2023-05-11

Exact text from the filing

On May 11, 2023, Waters Corporation (the “Company”) entered into a Multi-Currency Note Purchase and Private Shelf Agreement (the “Note Purchase Agreement”) with PGIM, Inc. and the purchasers of the Notes (as defined below) listed on Schedules A-1 and A-2 attached thereto (collectively, the “Note Purchasers”).

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WATERS CORP /DE/ filing history →

Source: SEC EDGAR

accession 0001193125-23-142113

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