- Keysight Technologies (KEYS, Financial) launches a $750 million senior unsecured notes offering.
- The notes carry a 5.350% interest rate, maturing in 2030, with closing expected on April 17, 2025.
- Proceeds to finance general corporate purposes, including the acquisition of Spirent Communications plc.
Keysight Technologies, Inc. (KEYS) has announced the pricing of a public offering for senior unsecured fixed-rate notes, with an aggregate principal amount of $750 million. The notes, set to mature in 2030, carry an annual interest rate of 5.350%. The offering is anticipated to close on April 17, 2025, pending customary closing conditions.
The revenue generated from this offering will be utilized for general corporate purposes. This includes partially financing Keysight's proposed acquisition of Spirent Communications plc, highlighting the strategic intent behind this capital raising effort.
The joint lead book-running managers for this offering include BNP Paribas Securities, Citigroup Global Markets, and BofA Securities. Barclays Capital and J.P. Morgan Securities also serve as additional book-running managers, indicating a robust backing by leading financial institutions.
This offering reflects Keysight's commitment to its inorganic growth strategy while preserving existing cash reserves and maintaining shareholder value by avoiding equity dilution. The fixed interest rate and the 2030 maturity provide a stable financial framework as the company looks to complete its acquisition and expand its capabilities through Spirent Communications.
