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MarketScreener Homepage  >  Equities  >  Nyse  >  Jabil Inc.    JBL

JABIL INC.

(JBL)
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JABIL INC : Entry into a Material Definitive Agreement, Other Events, Financial Statements and Exhibits (form 8-K)

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01/15/2020 | 04:43pm EST

Item 1.01. Entry into a Material Definitive Agreement.

On January 15, 2020, Jabil Inc. (the "Company") issued $500 million aggregate principal amount of the Company's 3.600% Senior Notes due 2030 (the "Notes") in an underwritten public offering (the "Offering"). The form and term of the Notes were established pursuant to an Officers' Certificate, dated as of January 15, 2020 (the "Officers' Certificate"), supplementing the Indenture, dated as of January 16, 2008, between the Company and U.S. Bank National Association (as successor in interest to The Bank of New York Mellon Trust Company, N.A. (formerly known as The Bank of New York Trust Company, N.A.)), as trustee (the "Indenture").

The Notes mature on January 15, 2030 and bear interest at the rate of 3.600% per annum, payable semi-annually in arrears on January 15 and July 15 of each year, beginning July 15, 2020. The Notes are unsecured obligations of the Company and rank equally in right of payment with all of the Company's other existing and future senior unsecured indebtedness.

Prior to October 15, 2029 (three months prior to the scheduled maturity date of the Notes), the Company is entitled, at its option, to redeem all or a portion of the Notes at a redemption price equal to 100% of the principal amount thereof, plus a "make-whole" premium and accrued and unpaid interest, if any, to, but excluding, the redemption date. On or after October 15, 2029 (three months prior to the scheduled maturity date of the Notes), the Company may redeem all or a portion of the Notes at a redemption price equal to 100% of the principal amount thereof, plus accrued and unpaid interest, if any, to, but excluding, the redemption date. The Company may also be required to offer to repurchase the Notes upon the occurrence of a Change of Control Repurchase Event (as defined in the Officers' Certificate) at a repurchase price equal to 101% of the aggregate principal amount of Notes to be repurchased.

The Indenture contains certain covenants, including, but not limited to, covenants limiting the Company's ability and/or its subsidiaries' ability to: create certain liens; enter into sale and leaseback transactions; create, incur, issue, assume or guarantee any funded debt (applicable only to the Company's "restricted subsidiaries"); guarantee any of the Company's indebtedness (applicable only to the Company's subsidiaries); and consolidate or merge with, or convey, transfer or lease all or substantially all of its assets to another person.

The foregoing description of the Notes is qualified in its entirety by reference to the complete terms and conditions of the Officers' Certificate and the form of Note, which are filed as Exhibits 4.1 and 4.2, respectively, to this Current Report on Form 8-K and are incorporated herein by reference.

Item 8.01. Other Events.

In connection with the Offering, the Company entered into an Underwriting Agreement (the "Underwriting Agreement") among the Company, BofA Securities, Inc., Mizuho Securities USA LLC, MUFG Securities Americas Inc. and SMBC Nikko Securities America, Inc., as representatives of the several underwriters listed in Schedule I to the Underwriting Agreement, with respect to the offer and sale of the Notes. The Underwriting Agreement contains customary representations, warranties and agreements by the Company and customary closing conditions, indemnification rights and termination provisions.

The foregoing description of the Underwriting Agreement is qualified in its entirety by reference to the complete terms and conditions of the Underwriting Agreement, which is filed as Exhibit 1.1 to this Current Report on Form 8-K and is incorporated herein by reference.

The Notes were issued in a public offering pursuant to the Company's Registration Statement on Form S-3 (File No. 333-221020) and a related prospectus supplement dated as of January 8, 2020. The Company is filing Exhibit 5.1 with this Current Report on Form 8-K in connection with such Registration Statement.

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Item 9.01. Financial Statements and Exhibits.


(d) Exhibits.

 Exhibit
   No.                                       Description

    1.1            Underwriting Agreement, dated as of January 8, 2020, among the
                 Company, BofA Securities, Inc., Mizuho Securities USA LLC, MUFG
                 Securities Americas Inc. and SMBC Nikko Securities America, Inc., as
                 representatives of the several underwriters listed therein

    4.1            Officers' Certificate, dated as of January 15, 2020, establishing
                 the 3.600% Senior Notes due 2030

    4.2            Form of 3.600% Senior Notes due 2030 (included as Exhibit A to the
                 Officers' Certificate filed herewith as Exhibit 4.1)

    5.1            Opinion of Sidley Austin LLP relating to the Notes

   23.1            Consent of Sidley Austin LLP (included in opinion filed as Exhibit
                 5.1)

   104           Cover Page Interactive Data File, formatted in Inline XBRL

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© Edgar Online, source Glimpses

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