On October 5, 2021, the Company entered into an underwriting agreement (the “Underwriting Agreement”) with Barclays Capital Inc., SMBC Nikko Securities America, Inc., Truist Securities, Inc. and Wells Fargo Securities, LLC, as representatives of the underwriters named in Schedule 1 thereto, with respect to the offering and sale in an underwritten public offering (the “Offering”) of $600 million aggregate principal amount of its 2.600% Senior Notes due 2031 (the “New 2031 Notes”) and $650 million aggregate principal amount of its 3.500% Senior Notes due 2051 (the “2051 Notes” and, together with the New 2031 Notes, the “Notes”). The New 2031 Notes are an additional issuance of the $900 million aggregate principal amount of the Company’s 2.600% Senior Notes due 2031 issued on March 2, 2021 and will trade interchangeably with such notes. The Underwriting Agreement is filed as Exhibit 1.1 to this report.
The Offering has been registered under the Securities Act, pursuant to a registration statement on Form S-3 (Registration No. 333-253451) of the Company (the “Registration Statement”), and the prospectus supplement dated October 5, 2021 and filed with the Securities and Exchange Commission (the “SEC”) pursuant to Rule 424(b) of the Securities Act on October 7, 2021. The Offering is expected to close on October 8, 2021. The legal opinion of Gibson, Dunn & Crutcher LLP related to the Offering pursuant to the Registration Statement is filed as Exhibit 5.1 to this report.
The Notes will be issued pursuant to an Indenture, dated as of December 18, 2012, between the Company and The Bank of New York Mellon Trust Company, N.A. as trustee (the “Trustee”), as supplemented, in the case of the 2031 Notes, by the Fourth Supplemental Indenture (the “Fourth Supplemental Indenture”), dated as of March 2, 2021, between the Company and the Trustee, and, in the case of the 2051 Notes, by the Fifth Supplemental Indenture (the “Fifth Supplemental Indenture”), to be dated as of October 8, 2021, between the Company and the Trustee. The 2031 Notes will be represented by a global security, the form of which is included as an exhibit to the Fourth Supplemental Indenture. The form of Fourth Supplemental Indenture and the form of the 2031 Notes were filed as Exhibits 4.1 and 4.2, respectively, to the Company’s Current Report on Form 8-K, dated February 25, 2021, filed with the SEC on March 2, 2021. The 2051 Notes will be represented by a global security, the form of which is included as an exhibit to the Fifth Supplemental Indenture. The form of Fifth Supplemental Indenture and the form of the 2051 Notes are filed as Exhibits to this Current Report on Form 8-K and are incorporated herein by reference.