Amphenol Prices €1.1 Billion Euro Notes to Refinance Short-Term Borrowings
The deal shifts the connector maker to longer-term fixed rates to match its AI-driven growth path.
Overview
- Amphenol priced a dual-tranche offering of euro-denominated senior notes totaling €1.1 billion.
- The sale includes €600 million due 2029 at a 3.375% coupon and €500 million due 2034 at 3.875%.
- The company plans to use the proceeds to repay U.S. commercial paper and a 364-day delayed-draw term loan, with any remainder for general purposes.
- Analysts at Barclays, Seaport, and JPMorgan recently raised price targets after strong Q1 results and a full-year revenue outlook of $8.1 billion to $8.2 billion.
- Amphenol supplies high-speed, power, and fiber-optic connectivity for AI data centers and has added scale through acquisitions, including CommScope’s CCS business.