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DewDiligence

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DewDiligence

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Re: DewDiligence post# 2

Tuesday, 02/27/2024 8:15:22 PM

Tuesday, February 27, 2024 8:15:22 PM

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SOLV sells $6.9B of debt in six tranches:

• $1B of 3yr notes @5.45%

• $1.5B of 5yr notes @5.40%

• $1B of 7yr notes @5.45%

• $1.65B of 10yr notes @5.60%

• $1.25B of 30yr notes @5.90%

• $0.5B of 40yr notes @6.00%

The total debt issuance was supposed to $8.4B (according to 3M's recent webcast), but I don't know where the other $1.5B is coming from.

All but $600M of the proceeds will be paid to 3M as consideration for the spin-off of 3M’s healthcare business to SOLV.

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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  • 1M
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  • 6M
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