HP Inc. priced its cash tender offer to buy certain outstanding debt securities.
The technology company prioritized 4.650%, 4.375% and 4.300% global notes due Dec. 9, 2021, Sept. 15, 2021, and June 1, 2021, respectively in the tender offer. The maximum tender subcap for these notes was raised to approximately $1.85 billion from $1.75 billion previously announced.
Next in the priority list are 4.050% and 3.750% global notes due Sept. 15, 2022, and Dec. 1, 2020, respectively. The tender subcap for this group of notes is $450.0 million.
The tender offer is also extended to $300.0 million worth of 6.00% global notes due Sept. 15, 2041, and all outstanding 2.750% global notes due Jan. 14, 2019, which total approximately $299.8 million.
The offer expires on April 5, 11:59 p.m. ET, unless extended or terminated by HP.
BofA Merrill Lynch and Citigroup Global Markets Inc. are serving as the dealer managers and solicitation agents for the tender offer and the consent solicitation. BNP Paribas Securities Corp., Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., J.P. Morgan Securities LLC, Mizuho Securities USA LLC, Morgan Stanley & Co. LLC, MUFG Securities Americas Inc. and Wells Fargo Securities LLC are serving as co-dealer managers.