Waters said its subsidiary Augusta SpinCo Corporation completed a public offering of $3.5 billion aggregate principal amount of senior notes on March 23, 2026. The notes consist of 5 series with maturities ranging from 2027 to 2036.

1. 01

   Waters said its subsidiary Augusta SpinCo Corporation completed a public offering of $3.5 billion aggregate principal amount of senior notes on March 23, 2026. The notes consist of 5 series with maturities ranging from 2027 to 2036.

2. 02

   The company said the notes comprise $650 million of 4.321% Senior Notes due 2027, $600 million of 4.398% Senior Notes due 2029, $750 million of 4.656% Senior Notes due 2031, $750 million of 4.945% Senior Notes due 2033, and $750 million of 5.245% Senior Notes due 2036.

3. 03

   Waters said it intends to use the net proceeds from the offering, together with cash on hand, to repay $3.5 billion of indebtedness outstanding under a delayed draw term loan incurred by the subsidiary on February 2026.

4. 04

   The company said the notes are fully and unconditionally guaranteed on a senior unsecured basis by Waters and certain subsidiaries, the indenture contains restrictions on liens and sale-leaseback transactions, and upon certain change of control triggering events, holders may require repurchase of the notes at 101% of the principal amount.

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