Ferguson Prices Public Offering Of $750M Of 5.000% Senior Unsecured Notes Due 2034
Portfolio Pulse from Benzinga Newsdesk
Ferguson has announced the pricing of a public offering of $750 million in 5.000% senior unsecured notes due in 2034. This move is likely aimed at raising capital for corporate purposes.
October 01, 2024 | 8:50 pm
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Ferguson has priced a public offering of $750 million in 5.000% senior unsecured notes due 2034, likely to raise capital for corporate purposes.
The issuance of senior unsecured notes is a common method for companies to raise capital. While it increases the company's debt, the fixed interest rate of 5.000% provides predictability in interest expenses. The impact on Ferguson's stock price in the short term is likely neutral as the market may have anticipated this move.
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