Roper Technologies Announces Pricing for $2 Billion Senior Notes
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Roper Technologies Prices Public Offering of Senior Unsecured Notes
SARASOTA, Fla. — Roper Technologies, Inc. (Nasdaq: ROP) has announced the pricing of its public offering of $500 million in 4.500% Senior Notes due 2029, $500 million in 4.750% Senior Notes due 2032, and $1 billion in 4.900% Senior Notes due 2034. The total offering amounts to $2 billion and is set to close, subject to customary closing conditions.
Details of the Senior Notes Offering
The 2029 notes will yield an annual interest rate of 4.500%, the 2032 notes will yield 4.750%, and the 2034 notes will yield 4.900%. Interest payments for the 2029 and 2034 notes will occur semi-annually on April 15 and October 15, beginning April 15, 2025. The 2032 notes will pay interest on February 15 and August 15, starting February 15, 2025. The maturity dates for the notes are set for October 15, 2029, February 15, 2032, and October 15, 2034. These notes are classified as senior unsecured obligations of Roper Technologies.
Use of Proceeds from the Offering
Roper Technologies anticipates using the net proceeds from this offering for several strategic purposes. This includes repaying part of its borrowings under a five-year unsecured credit facility, addressing certain obligations such as the 2.350% Senior Notes maturing in 2024, and facilitating general corporate purposes, including potential future acquisitions. Thus, the offering is independent of the planned acquisition of Transact Campus, Inc., which will not impact the closure of the bond offering.
Management of the Offering
In this offering, BofA Securities, J.P. Morgan Securities, and Wells Fargo Securities are acting as active joint book-running managers. Mizuho Securities, MUFG Securities, and Truist Securities will serve as passive joint book-running managers for the 2029 and 2032 notes, while also co-managing the 2034 notes. PNC Capital Markets, TD Securities, and U.S. Bancorp Investments are also managing the co-management responsibilities across various notes, including co-managing the 2029, 2032, and 2034 notes.
Registration and Additional Information
The offering is conducted under an effective shelf registration statement and is accompanied by a preliminary prospectus supplement and an earlier dated prospectus. Interested parties can obtain documents related to this offering without charge by visiting the SEC's EDGAR database, or by contacting the respective banks detailed in the announcement for further inquiries regarding the offering.
About Roper Technologies
Roper Technologies is a recognized name within the Nasdaq 100, S&P 500, and Fortune 1000. Known for its robust track record of generating cash flow and shareholder value, Roper operates market-leading businesses that deliver software solutions and technology-driven products across various niche markets. The company follows a rigorous process of redeploying capital towards strategic acquisitions. For additional insights about Roper, visit their website at www.ropertech.com.
Contact Information
Investor Relations
941-556-2601
investor-relations@ropertech.com
Frequently Asked Questions
1. What is the purpose of the Senior Notes offering by Roper Technologies?
The Senior Notes offering is primarily aimed at repaying outstanding borrowings, fulfilling general corporate purposes, and facilitating strategic acquisitions.
2. When will the interest payments be made for the Senior Notes?
Interest payments for the 2029 and 2034 notes will be made semi-annually on April 15 and October 15, while the 2032 notes will pay interest on February 15 and August 15.
3. Who are the managers of this bond offering?
BofA Securities, J.P. Morgan Securities, and Wells Fargo Securities are the active joint book-running managers for this bond offering.
4. Are the proceeds from the offering contingent on completing the acquisition of Transact Campus?
No, the offering is not conditioned upon the completion of the Transact Campus acquisition.
5. What is Roper Technologies' track record in the market?
Roper Technologies has a long-standing reputation for compounding cash flow and enhancing shareholder value while operating in diverse and profitable niche markets.
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