Xylem Inc. announced the completion of a public offering of senior notes totaling $1.5 billion in aggregate principal amount. The offering is divided into three tranches with varying maturity dates and interest rates.
Key Details
- Offering Structure: The offering consists of three tranches: $500 million of 5.250% Senior Notes due 2029, $500 million of 5.450% Senior Notes due 2032, and $500 million of 5.850% Senior Notes due 2037.
- Use of Proceeds: Net proceeds will be used primarily to finance the previously announced acquisition of the Cornell Pump and Roper Pump businesses, pay related expenses, and for general corporate purposes.
- Redemption Clause: The notes are subject to a special mandatory redemption at 101% of the principal amount if the specified acquisition is not consummated by August 10, 2027, or a later extended date.