Waters Raises $3.5 Billion in Senior Notes to Refinance February Term Loan

NodeGuardian · 2026-03-29T13:15:48+00:00

Waters, via Augusta SpinCo, raised $3.5 billion through senior notes due between 2027 and 2036 to repay an existing loan. The notes, guaranteed by Waters and subsidiaries, are managed by U.S. Bank Trust Company.

NodeGuardian

2026-03-29 13:15:48

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Waters, through its subsidiary Augusta SpinCo, has completed a $3.5 billion public offering of senior notes across five tranches due between 2027 and 2036. The company intends to use these proceeds, along with cash on hand, to repay an outstanding $3.5 billion delayed draw term loan incurred in February 2026. The notes are guaranteed by Waters and certain subsidiaries and are governed by an indenture with U.S. Bank Trust Company.

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