The company said it intends to use the proceeds of the offering and available cash, including funds from its secured revolving credit facility, to redeem its outstanding 5.25% senior notes due 2022 in the aggregate original principal amount of $1 billion. Hologic said it will redeem all outstanding 2022 notes on or about February 15, subject to the completion of this offering and receipt of proceeds equal to the $1 billion principal amount plus the applicable premium and accrued and unpaid interest.
The offering, subject to market and other conditions, is expected to be allocated between additional 4.375% senior notes due 2025 and new senior notes due 2028, according to the vendor. The new 2028 notes will be issued pursuant to a new indenture that will be executed as of closing of the offering. Both categories of notes will be unsecured obligations of Hologic and will be guaranteed by certain subsidiaries, Hologic said.
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