Item 1.01. Entry into a Material Definitive Agreement.
On
The Notes were issued under an indenture, dated as of
The Notes are unsecured senior obligations of the Company and rank senior in
right of payment to all existing and future indebtedness that is, by its terms,
expressly subordinated in right of payment to the Notes and equally in right of
payment with all other unsecured senior indebtedness of the Company. The 2031
Notes mature on
The Notes are not entitled to any sinking fund payments. The Company may redeem the Notes at any time in whole or from time to time in part in accordance with the provisions of the Indenture.
Upon the occurrence of a change of control repurchase event (defined and described more fully in the Supplemental Indentures to mean certain changes in control of the Company that result in ratings downgrades) with respect to the Notes, each holder of the Notes will have the right to require the Company to purchase that holder's Notes at a price equal to 101% of the principal amount thereof, plus accrued and unpaid interest to, but excluding, the date of repurchase, unless the Company has exercised its option to redeem all the Notes.
In the case of an event of default arising from certain events of bankruptcy or insolvency with respect to the Company or certain of its majority-owned subsidiaries, all outstanding Notes will become due and payable immediately. If any other event of default specified in the Indenture occurs and is continuing, the Trustee or the holders of at least 25% in aggregate principal amount of the outstanding series of Notes may declare the principal of the applicable series of Notes immediately due and payable.
The Indenture contains certain limitations on the ability of the Company and certain majority-owned subsidiaries to grant liens without equally securing the Notes, or to enter into certain sale and lease-back transactions. These covenants are subject to a number of important exceptions and limitations, as further provided in the Indenture, as applicable.
The foregoing description of the Notes, the Base Indenture and the Supplemental Indentures does not purport to be complete and is qualified in its entirety by reference to such documents, which are incorporated by reference herein.
Item 2.03. Creation of Direct Financial Obligation.
The disclosure set forth in Item 1.01 above is incorporated by reference into this Item 2.03.
Item 8.01. Other Events.
Offering and Sale of the Notes
On
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A copy of the opinion letter of
On
Redemption of Outstanding Senior Notes
On
The Company announced that it will redeem (i) all of the outstanding 2022 Notes,
such principal amount thereof being
No statement contained in this Current Report shall constitute a notice of redemption under the Base Indenture, including the applicable supplemental indenture, governing the 2022 Notes, the 2023 Notes and the 2024 Notes. All such notices will only be made in accordance with the provisions of the Base Indenture and applicable supplemental indenture.
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Item 9.01 Financial Statements and Exhibits.
(d) Exhibits Exhibit No. Description 1.1 Terms Agreement, dated as ofFebruary 23, 2021 , between the Company andCitigroup Global Markets Inc. ,BofA Securities, Inc. andMorgan Stanley & Co. LLC , as representatives of the several underwriters named in Schedule I thereto. 4.1 Senior Debt Indenture, dated as ofMarch 2, 2012 , between the Company andU.S. Bank National Association , as Trustee, (incorporated by reference to Exhibit 4.1 to the Company's Current Report on Form 8-K filed with theSEC onMarch 2, 2012 ). 4.2 Tenth Supplemental Indenture, dated as ofFebruary 25, 2021 , between the Company andU.S. Bank National Association , as Trustee. 4.3 Eleventh Supplemental Indenture, dated as ofFebruary 25, 2021 , between the Company andU.S. Bank National Association , as Trustee. 4.4 Form of Global Note representing 2.400% Senior Notes due 2031 (included as part of Exhibit 4.2). 4.5 Form of Global Note representing 3.375% Senior Notes due 2041 (included as part of Exhibit 4.3). 5.1 Opinion ofWillkie Farr & Gallagher LLP . 23.1 Consent ofWillkie Farr & Gallagher LLP (included as part of Exhibit 5.1). 99.1 Press Release, datedFebruary 23, 2021 . 104 Cover Page Interactive Data File. The cover page XBRL tags are embedded within the Inline XBRL document (included as Exhibit 101).
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