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Waters Corp. raises $500M from senior notes private placement

Waters Corp. said it raised $500 million from senior notes in a private placement.

Under the deal, the Milford, Mass.-based life sciences company issued and sold $200 million aggregate principal amount of series L senior notes with interest at a fixed rate of 3.31% and maturing on Sept. 12, 2026; as well as $300 million aggregate principal amount of series M senior notes bearing interest at a fixed rate of 3.53% and maturing on Sept. 12, 2029.

Certain domestic units of the company entered a subsidiary guarantee agreement in order to jointly and severally guarantee Waters Corp.'s monetary obligations under the note purchase transaction.

The company plans to use proceeds from the private placement to repay other outstanding debt and for general corporate purposes.

Waters Corp. provides laboratory instruments and software to healthcare and life science companies.