Business
Waters Prices Offering of Senior Notes
Waters Corporation (NYSE: WAT) (the "Company" or "Waters") today announced that it has priced an offering (the "Offering") of $3.5 billion aggregate principal amount of the following senior notes issued by its subsidiary, Augusta SpinCo Corporation ("Augusta"):
About this update from Waters Corporation
[{"type":"text","content":"MILFORD, Mass., March 18, 2026 /PRNewswire/ -- Waters Corporation (NYSE: WAT) (the "Company" or "Waters") today announced that it has priced an offering (the "Offering") of $3.5 billion aggregate principal amount of the following senior notes issued by its subsidiary, Augusta SpinCo Corporation ("Augusta"):","length":358,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"$650 million aggregate principal amount of 4.321% Senior Notes due 2027 at the issue price of 100.000% of their principal amount;","length":129,"tagName":"p"}]},{"val":[{"type":"text","content":"$600 million aggregate principal amount of 4.398% Senior Notes due 2029 at the issue price of 100.000% of their principal amount;","length":129,"tagName":"p"}]},{"val":[{"type":"text","content":"$750 million aggregate principal amount of 4.656% Senior Notes due 2031 at the issue price of 100.000% of their principal amount;","length":129,"tagName":"p"}]},{"val":[{"type":"text","content":"$750 million aggregate principal amount of 4.945% Senior Notes due 2033 at the issue price of 100.000% of their principal amount; and","length":133,"tagName":"p"}]},{"val":[{"type":"text","content":"$750 million aggregate principal amount of 5.245% Senior Notes due 2036 at the issue price of 100.000% of their principal amount (collectively, the "Notes").","length":167,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":687,"olType":false},{"type":"text","content":"The Offering is expected to close on or about March 23, 2026, subject to the satisfaction of customary closing conditions.","length":122,"tagName":"p"},{"type":"text","content":"The Notes will be fully and unconditionally guaranteed by Waters and certain of its direct and indirect subsidiaries. Waters intends to use the net proceeds from the Offering, together with cash on hand, to repay $3.5 billion of indebtedness outstanding under the delayed draw term loan incurred by Augusta in February 2026.","length":324,"tagName":"p"},{"type":"text","content":"Barclays Capital Inc. is acting as global coordinator and Citigroup Global Markets Inc., J.P. Morgan Securities LLC, BofA Securities, Inc. and HSBC Securities (USA) Inc. are acting as active bookrunners for the Offering.","length":220,"tagName":"p"},{"type":"text","content":"The Offering is ...