Summary by Futu AI
Illumina, Inc. has announced the offering of $500 million aggregate principal amount of 4.650% notes due 2026. The notes will pay interest semiannually on March 9 and September 9, starting March 9, 2025, and will mature on September 9, 2026. Illumina may redeem the notes at any time at a calculated redemption price. The notes are unsecured and unsubordinated obligations, ranking equally with Illumina's other unsecured and unsubordinated indebtedness. They will be issued in book-entry form with minimum denominations of $2,000 and integral multiples of $1,000 thereafter. The offering is expected to close on or about September 9, 2024, with J.P. Morgan, Goldman Sachs & Co. LLC, BNP PARIBAS, and BofA Securities acting as joint book-running managers. The proceeds, before expenses, are estimated at approximately $496 million and are intended to repay a portion of the outstanding indebtedness under the Delayed Draw Credit Agreement related to the Distribution and to pay related fees and expenses.