A · Agilent Technologies, Inc.

Agilent Technologies completed a $600 million debt offering through the issuance of 4.900% Senior Notes due 2032. The notes were sold in a private placement to qualified institutional buyers via Rule 144A and to non-U.S. persons via Regulation S, indicating reliance on institutional and offshore demand. The net proceeds were not specified but are typically used for general corporate purposes, including working capital, capital expenditures, and potential acquisitions. The interest rate of 4.900% is fixed, providing predictable interest expense over the approximately 5.5-year term to maturity. The notes are senior unsecured obligations, ranking equally with Agilent's existing and future unsubordinated debt, which maintains the company's capital structure flexibility. The inclusion of a change of control repurchase provision at 101% of principal offers noteholders protection in the event of a significant ownership change. The redemption options allow Agilent to manage its debt portfolio proactively, with a make-whole premium applicable before December 2031 and thereafter at par. The associated Registration Rights Agreement obligates Agilent to use commercially reasonable efforts to complete an exchange offer within one year, failing which additional interest of up to 0.50% per annum may accrue. Overall, this issuance increases Agilent's leverage but at a relatively modest cost, reflecting the company's current credit profile and market conditions.