The company said it completed a public offering of $650 million in Senior Notes due 2054 bearing 5.000% interest on October 1, 2024. The offering was registered under the Securities Act on Form S-3 registration statement.

1. 01

   The company said it completed a public offering of $650 million in Senior Notes due 2054 bearing 5.000% interest on October 1, 2024. The offering was registered under the Securities Act on Form S-3 registration statement.

2. 02

   The company said it received net proceeds of approximately $638.1 million from the notes after deducting the underwriting discount and estimated offering expenses payable by the company.

3. 03

   The company said the notes carry an annual interest rate of 5.000%, payable from June 15, 2025 on June 15 and December 15 each year, and mature on December 15, 2054. The notes are unsecured senior obligations that rank equally in right of payment with all of the company's other existing and future unsubordinated debt.

4. 04

   The company said it may redeem the notes at its option at any time, in whole or in part, under the Indenture. The Indenture contains covenants that restrict, among other things, the granting of certain liens and certain sale and leaseback transactions. If an event of default occurs and continues, the Trustee or holders of at least 25% of the outstanding principal amount may declare all notes immediately due and payable.

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Original filing

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