Keysight Technologies Issues $750 Million in Senior Notes to Support Corporate Financing and Acquisition Plans


Keysight Technologies has announced the issuance of $750 million in aggregate principal amount of 5.350% Notes due 2030, aimed at funding general corporate purposes and potentially supporting its proposed acquisition of Spirent Communications plc. The unsecured and unsubordinated notes were offered under the company's shelf registration statement and sold through underwriters including BNP Paribas, Citigroup, and BofA Securities.

The notes, governed by an indenture with U.S. Bank Trust Company, carry semi-annual interest payments starting January 30, 2026, and mature on July 30, 2030. They are redeemable at the company’s option, with pricing terms depending on whether redemption occurs before or after June 30, 2030.

In addition to standard financial covenants, the notes include provisions for repurchase at 101% of par in the event of a change of control. The indenture restricts the company from incurring certain liens or engaging in sale-leaseback transactions involving principal properties and includes customary events of default protections.