The company said it announced on March 4, 2024 the pricing terms of 14 separate cash tender offers to buy back up to $2,250,000,000 in aggregate principal amount of its outstanding senior notes.

1. 01

   The company said it announced on March 4, 2024 the pricing terms of 14 separate cash tender offers to buy back up to $2,250,000,000 in aggregate principal amount of its outstanding senior notes.

2. 02

   The company said it calculated the Total Consideration for each series by adding the yield on the applicable reference security to the fixed spread, as of 10 a.m. Eastern time on March 4, 2024. For example, the 3.360% Senior Notes due 2031 carry +65 basis points, 920.35.

3. 03

   The company said the offers will expire at 5 p.m. Eastern time on March 4, 2024, with initial settlement expected on March 7 and guaranteed delivery settlement expected on March 8. Holders whose notes are accepted will also receive in cash the accrued and unpaid interest from the preceding interest payment date to, but excluding, the initial settlement date.

4. 04

   The company said that if the Maximum Purchase Condition is not satisfied for every series, it will buy notes in order of Acceptance Priority Level, from Level 1 to Level 14. The offers have no minimum principal amount tender condition for any series, and the company has the right to waive any and all conditions to the offers, subject to applicable law.

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Original filing

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