8-K
filed March 23, 2026, 7:59 PM ET
ticker WAT
CIK 0001000697
debt
confidence high
sentiment neutral
materiality 0.60
WATERS CORP /DE/ (WAT): debt financing — Waters subsidiary issues $3.5B in senior notes across five tranches to repay DDTL
WATERS CORP /DE/
- Issuer Augusta SpinCo completed offering of $3.5B senior notes: 4.321% due 2027, 4.398% 2029, 4.656% 2031, 4.945% 2033, 5.245% 2036.
- Notes are fully and unconditionally guaranteed by Waters Corp and certain subsidiaries.
- Proceeds used to repay $3.5B of indebtedness under delayed draw term loan incurred in February 2026.
- Change of control triggers mandatory repurchase at 101% of principal plus accrued interest.
- Underwriters include Barclays, Citigroup, J.P. Morgan, BofA Securities, and HSBC.
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 $750 million with U.S. Bank Trust Company, National Association at 4.656% maturing due 2031.
- Instrument
- senior notes
- Principal
- $750 million
- Counterparty
- U.S. Bank Trust Company, National Association
- Rate
- 4.656%
- Maturity
- due 2031
- Event
- incurrence
Exact text from the filing
On March 23, 2026, Augusta SpinCo Corporation (the “Issuer”), a subsidiary of Waters Corporation (the “Company”), completed the public offering (the “Offering”) of $3.5 billion aggregate principal amount of senior notes, consisting of (i) $650 million aggregate principal amount of 4.321% Senior Notes due 2027 (the “2027 Notes”), (ii) $600 million aggregate principal amount of 4.398% Senior Notes due 2029, (iii) $750 million aggregate principal amount of 4.656% Senior Notes due 2031, (iv) $750 million aggregate principal amount of 4.945% Senior Notes due 2033 and (v) $750 million aggregate principal amount of 5.245% Senior Notes due 2036 (collectively, the “Notes”).
View on SEC.gov
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
WATERS CORP /DE/ incurred senior notes of $750 million with U.S. Bank Trust Company, National Association at 4.945% maturing due 2033.
- Instrument
- senior notes
- Principal
- $750 million
- Counterparty
- U.S. Bank Trust Company, National Association
- Rate
- 4.945%
- Maturity
- due 2033
- Event
- incurrence
Exact text from the filing
On March 23, 2026, Augusta SpinCo Corporation (the “Issuer”), a subsidiary of Waters Corporation (the “Company”), completed the public offering (the “Offering”) of $3.5 billion aggregate principal amount of senior notes, consisting of (i) $650 million aggregate principal amount of 4.321% Senior Notes due 2027 (the “2027 Notes”), (ii) $600 million aggregate principal amount of 4.398% Senior Notes due 2029, (iii) $750 million aggregate principal amount of 4.656% Senior Notes due 2031, (iv) $750 million aggregate principal amount of 4.945% Senior Notes due 2033 and (v) $750 million aggregate principal amount of 5.245% Senior Notes due 2036 (collectively, the “Notes”).
View on SEC.gov
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
WATERS CORP /DE/ incurred senior notes of $650 million with U.S. Bank Trust Company, National Association at 4.321% maturing due 2027.
- Instrument
- senior notes
- Principal
- $650 million
- Counterparty
- U.S. Bank Trust Company, National Association
- Rate
- 4.321%
- Maturity
- due 2027
- Event
- incurrence
Exact text from the filing
On March 23, 2026, Augusta SpinCo Corporation (the “Issuer”), a subsidiary of Waters Corporation (the “Company”), completed the public offering (the “Offering”) of $3.5 billion aggregate principal amount of senior notes, consisting of (i) $650 million aggregate principal amount of 4.321% Senior Notes due 2027 (the “2027 Notes”), (ii) $600 million aggregate principal amount of 4.398% Senior Notes due 2029, (iii) $750 million aggregate principal amount of 4.656% Senior Notes due 2031, (iv) $750 million aggregate principal amount of 4.945% Senior Notes due 2033 and (v) $750 million aggregate principal amount of 5.245% Senior Notes due 2036 (collectively, the “Notes”).
View on SEC.gov
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
WATERS CORP /DE/ incurred senior notes of $750 million with U.S. Bank Trust Company, National Association at 5.245% maturing due 2036.
- Instrument
- senior notes
- Principal
- $750 million
- Counterparty
- U.S. Bank Trust Company, National Association
- Rate
- 5.245%
- Maturity
- due 2036
- Event
- incurrence
Exact text from the filing
On March 23, 2026, Augusta SpinCo Corporation (the “Issuer”), a subsidiary of Waters Corporation (the “Company”), completed the public offering (the “Offering”) of $3.5 billion aggregate principal amount of senior notes, consisting of (i) $650 million aggregate principal amount of 4.321% Senior Notes due 2027 (the “2027 Notes”), (ii) $600 million aggregate principal amount of 4.398% Senior Notes due 2029, (iii) $750 million aggregate principal amount of 4.656% Senior Notes due 2031, (iv) $750 million aggregate principal amount of 4.945% Senior Notes due 2033 and (v) $750 million aggregate principal amount of 5.245% Senior Notes due 2036 (collectively, the “Notes”).
View on SEC.gov
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
WATERS CORP /DE/ incurred senior notes of $600 million with U.S. Bank Trust Company, National Association at 4.398% maturing due 2029.
- Instrument
- senior notes
- Principal
- $600 million
- Counterparty
- U.S. Bank Trust Company, National Association
- Rate
- 4.398%
- Maturity
- due 2029
- Event
- incurrence
Exact text from the filing
On March 23, 2026, Augusta SpinCo Corporation (the “Issuer”), a subsidiary of Waters Corporation (the “Company”), completed the public offering (the “Offering”) of $3.5 billion aggregate principal amount of senior notes, consisting of (i) $650 million aggregate principal amount of 4.321% Senior Notes due 2027 (the “2027 Notes”), (ii) $600 million aggregate principal amount of 4.398% Senior Notes due 2029, (iii) $750 million aggregate principal amount of 4.656% Senior Notes due 2031, (iv) $750 million aggregate principal amount of 4.945% Senior Notes due 2033 and (v) $750 million aggregate principal amount of 5.245% Senior Notes due 2036 (collectively, the “Notes”).
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
WATERS CORP /DE/ entered into Indenture with U.S. Bank Trust Company, National Association valued at $3.5 billion aggregate principal amount (effective 2026-03-23).
- Action
- entry
- Agreement
- notes offering
- Counterparty
- U.S. Bank Trust Company, National Association
- Value
- $3.5 billion aggregate principal amount
- Effective
- 2026-03-23
Exact text from the filing
The Notes and the Guarantees were issued pursuant to that certain Indenture, dated as of March 23, 2026 (the “Base Indenture”), by and among the Issuer, the Company and U.S. Bank Trust Company, National Association, as trustee (the “Trustee”), as supplemented by that certain First Supplemental Indenture, dated as of March 23, 2026 (the “First Supplemental Indenture” and the Base Indenture as so supplemented, the “Indenture”), by and among the Issuer, the Guarantors and the Trustee.
View on SEC.gov
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