Summary by Futu AI
Walgreens Boots Alliance, Inc. has announced the pricing of its $750 million 8.125% Notes due 2029. The trade date for the notes is set for August 8, 2024, with a settlement date of August 12, 2024. The notes, which mature on August 15, 2029, have been given an expected rating of B1 by Moody's and BB by S&P. The notes will be priced at 100% of the principal amount and will pay interest semi-annually starting February 15, 2025. The company has outlined terms for optional redemption, including a make-whole call prior to August 15, 2026, and set redemption prices for subsequent years. Additionally, Walgreens Boots Alliance may redeem up to 40% of the notes prior to August 15, 2026, with equity offering proceeds. A change of control repurchase obligation is also in place. The joint book-running managers for the offering include major financial institutions such as J.P. Morgan Securities LLC and Wells Fargo Securities, LLC, among others. Investors are advised to read the prospectus and other documents filed with the SEC for more complete information about the offering.