AND WHAT DO YOU MAKE OF THIS ??
_______________________________________
HP Prices $500 Million Bond Offering
3/6/2003 4:35:00 PM
PALO ALTO, Calif., Mar 6, 2003 (BUSINESS WIRE) -- HP (HPQ) today announced the pricing of a sale of senior unsecured Global Notes totaling $500 million due March 15, 2008, with a coupon of 3.625 percent. The Global Notes will be rated "A3" by Moody's Investors Services, "A-" by Standard & Poor's and "A" by Fitch Ratings, in each case with negative outlook.
The net proceeds from the sale of the Global Notes are expected to be used for general corporate purposes, which may include capital expenditures, repurchases of common stock, payment of dividends, repayment of indebtedness of HP and its subsidiaries, acquisitions of products, technology and businesses, including related restructuring expenses and meeting working capital needs.
The Global Notes are being issued under HP's effective shelf registration statement (registration statement number 333-83346). The offering is expected to close on March 13, 2003.
Salomon Smith Barney, HSBC and BNP Paribas are joint book-running managers on the transaction |
