Mettler-Toledo International Inc. announced that it expects to receive $125 million in funding from a group of investors
May 17, 2021
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Mettler-Toledo International Inc. (NYSE:MTD) announced that it has entered into a note purchase agreement with accredited institutional investors for private placement of 2.83% Series 2021-A Senior Notes due July 22, 2033 for gross proceeds of $125,000,000 on May 18, 2021. The Notes bear interest at a fixed rate of 2.83% and mature on July 22, 2033. Interest is payable semi-annually on January 22 and July 22 of each year, beginning on January 22, 2022. The company may at any time prepay the notes, in whole or in part, at a price equal to 100% of the principal amount thereof; plus accrued and unpaid interest; plus, in some instances, a “make-whole” prepayment premium and a swap related currency loss. The notes are senior unsecured obligations of the company. The company will pay all costs and expenses incurred by each investor. The transaction will include participation from Gibraltar Universal Life Reinsurance Company for $2,600,000, Highmark Inc. for $5,000,000, American General Life Insurance Company for $8,022,500, Zurich American Insurance Company for $4,300,000, American Equity Investment Life Insurance Company for $2,000,000, Venerable Insurance and Annuity Company for $3,000,000, existing investors Pruco Life Insurance Company for $4,400,000, The Prudential Insurance Company of America for $7,500,000, The Variable Annuity Life Insurance Company for $11,477,500, Athene Annuity & Life Assurance Company for $5,000,000, Athene Annuity and Life Company for $9,500,000, The Lincoln National Life Insurance Company for $15,500,000, Lincoln Life & Annuity Company of New York for $4,000,000, Metropolitan Life Insurance Company for $7,600,000, Metlife Insurance K.K. for $7,600,000, The Northwestern Mutual Life Insurance Company for $19,500,000, Connecticut General Life Insurance Company for $3,000,000 and Cigna Health and Life Insurance Company for $ $5,000,000. The transaction is expected to close on July 22, 2021.
Mettler-Toledo International, Inc. specializes in the design, manufacturing and marketing of precision instruments. Net sales break down by sector of activity as follows:
- research and development in laboratories (55.6%): weighing solutions (analytical balances, precision balances, microbalances, mass comparators, etc.), pipetting systems, analytical instruments (thermal analysis instruments, titrators, pH meters, densimeters, refractometers and spectrophotometers), automated reactors, etc. ;
- industries (39.3%): industrial scales, analysis systems, industrial inspection and control systems. The group also offers software solutions for weighing, measuring and identification, as well as solutions to monitor and control production processes;
- distribution of food products (6.1%): weighing solutions (weight / price scales, counter balances, cash balances, etc.), packaging, pricing, packaging and labeling.
Net sales by source of revenue break down between product sales (76.7%) and services (23.3%).
At the end of 2023, the group had 30 production sites worldwide.
Net sales are distributed geographically as follows: the United States (35.5%), the Americas (5.9%), Germany (5.8%), France (3.7%), Switzerland (2.4%), the United Kingdom (2.1%), Europe (12.8%), China (18.7%) and other (13.1%).
METTLER-TOLEDO INTERNATIONAL, INC. 
