The offering consists of $500m aggregate principal amount of its 5.400% notes due 2030 at a public offering price of 99.732% of the principal amount, and $500m aggregate principal amount of its 6.100% notes due 2035 at a public offering price of 99.778% of the principal amount.
HP said it intended to use the net proceeds from the offering for general corporate purposes, “which may include, without limitation, repayment and refinancing of debt (including the repayment of HP’s 2.200% notes due June 2025 at maturity)”.
The issuance of the notes is expected to close on 25 April 2025, subject to customary closing conditions.
BNP Paribas Securities Corp., BofA Securities, Inc, Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, and Wells Fargo Securities, LLC are acting as joint book-running managers for the offering.
