Ferguson Enterprises Inc. announced the pricing of a public offering for $750 million in aggregate principal amount of 5.000% senior unsecured notes due 2034. The obligations under these notes will be fully and unconditionally guaranteed by Ferguson UK Holdings Limited, an indirect subsidiary.
The company expects the closing of this offering to occur on October 3, 2024, subject to the satisfaction of customary closing conditions. This debt issuance is a notable financing event for the company.
Ferguson intends to allocate a portion of the net proceeds from the sale of these notes to prepay certain outstanding term loans. The remaining proceeds are designated for general corporate purposes, enhancing the company's financial flexibility.
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