#United States #Senior Notes #Milford #Waters Corporation #Augusta SpinCo

Waters Corporation Announces Pricing for Senior Notes Offering

Waters Corporation, a leader in life sciences and diagnostics, has made headlines with its recent announcement concerning a substantial offering of senior notes. The offering is valued at an impressive $3.5 billion, aimed at refinancing existing debt.

The details of the offering are noteworthy as it includes several batches of notes issued through its subsidiary, Augusta SpinCo Corporation. Here’s a breakdown of the structured offerings:

• - $650 million in Senior Notes with a 4.321% interest rate due in 2027.
• - $600 million in Senior Notes with a 4.398% interest rate due in 2029.
• - $750 million in Senior Notes with a 4.656% interest rate set to mature in 2031.
• - $750 million in Senior Notes carrying a 4.945% interest rate due in 2033.
• - $750 million in Senior Notes with a 5.245% interest rate due in 2036.

Each of the notes will be issued at 100% of their principal amount, and the company expects the offering to close around March 23, 2026, provided that all customary closing conditions are met. These financial instruments will be guaranteed unconditionally by Waters corporation along with several of its direct and indirect subsidiaries.

The proceeds gained from this offering, combined with existing cash, will be utilized to repay the full amount of $3.5 billion owed under a delayed draw term loan that Augusta incurred in February 2026. This strategic move highlights Waters’ commitment to managing its obligations effectively and maintaining a healthy financial position.

The Role of Underwriters

To facilitate this offering, Waters has enlisted the expertise of major financial institutions. Barclays Capital Inc. is taking on the role of global coordinator for the offering. Other prominent banks such as Citigroup Global Markets Inc., J.P. Morgan Securities LLC, BofA Securities, Inc., and HSBC Securities (USA) Inc. are functioning as active bookrunners.

The offering comes under an effective shelf registration statement on Form S-3ASR filed with the U.S. Securities and Exchange Commission (SEC), which allows Waters flexibility in raising capital as needed. Investors interested in acquiring these notes can find more detailed information through a preliminary prospectus supplement available on the SEC's website. However, it’s essential to note that this press release does not constitute an offer to sell or a solicitation of an offer to purchase any securities.

About Waters Corporation

Waters Corporation is renowned for its commitment to innovation in analytical technologies and services in the life sciences sector. With approximately 16,000 employees worldwide, Waters focuses on enhancing scientific breakthroughs that improve global health through optimized diagnostics and testing.

Their cutting-edge solutions aim to contribute to safer food and water supply, assist in identifying diseases earlier, and improve healthcare outcomes overall. As they move forward with this offering of senior notes, Waters remains dedicated to paving the way for scientific advancements through strategic financial maneuvers and collaboration with their clients globally.

As Waters Corporation continues to push boundaries in life sciences, this latest development reflects their proactive approach to managing corporate finances effectively. Investors and stakeholders will keenly watch the closing of this offering and what it means for the corporation's future financial strategies and innovations.