Intuit issues $4.0B senior notes across four tranches; net proceeds to repay term loan

INTUIT INC.

Issued $750M 5.250% notes due 2026, $750M 5.125% notes due 2028, $1.25B 5.200% notes due 2033, $1.25B 5.500% notes due 2053.
Net proceeds estimated at ~$3.96B; will repay outstanding unsecured term loan under credit facility.
Interest payable March 15 and September 15 annually starting March 15, 2024.
Notes are senior unsecured, rank equally with all existing and future unsecured unsubordinated debt.
Pricing and settlement occurred on September 15, 2023 under shelf registration statement filed September 1, 2023.

Key facts

Extracted from this filing and checked against the source text.

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

INTUIT INC. entered into First Supplemental Indenture with U.S. Bank Trust Company, National Association, as trustee (effective 2023-09-15).

Action: entry
Agreement: notes offering
Counterparty: U.S. Bank Trust Company, National Association, as trustee
Effective: 2023-09-15

Exact text from the filing

an Indenture dated as of June 29, 2020 (the “Base Indenture”), between Intuit and U.S. Bank Trust Company, National Association, as trustee, together with the First Supplemental Indenture, dated September 15, 2023 (the “Supplemental Indenture” and, together with the Base Indenture, the “Indenture”)

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

INTUIT INC. entered into Underwriting Agreement with BofA Securities, Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC, as representatives of the underwriters valued at $750.0 million aggregate principal amount of its 5.250% Senior Notes due 2026, $750.0 million aggreg (effective 2023-09-15).

Action: entry
Agreement: underwriting
Counterparty: BofA Securities, Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC, as representatives of the underwriters
Value: $750.0 million aggregate principal amount of its 5.250% Senior Notes due 2026, $750.0 million aggreg
Effective: 2023-09-15

Exact text from the filing

On September 15, 2023, Intuit Inc. (“Intuit”) completed its issuance and sale of $750.0 million aggregate principal amount of its 5.250% Senior Notes due 2026 (the “2026 Notes”), $750.0 million aggregate principal amount of its 5.125% Senior Notes due 2028 (the “2028 Notes”), $1.25 billion aggregate principal amount of its 5.200% Senior Notes due 2033 (the “2033 Notes”) and $1.25 billion aggregate principal amount of its 5.500% Senior Notes due 2053 (the “2053 Notes” and together with the 2026 Notes, the 2028 Notes and the 2033 Notes, the “Notes”) pursuant to an Underwriting Agreement (the “Underwriting Agreement”) with BofA Securities, Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC, as representatives of the underwriters named therein

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279 material agreements filed in the last 30 days. Browse all material agreements →

INTUIT INC. filing history →

Source: SEC EDGAR

accession 0001193125-23-236201

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