Prospectus Supplement
(To Prospectus dated March 22, 2018)
$500,000,000 Floating Rate Notes due 2020
$500,000,000 Floating Rate Notes due 2021
$2,000,000,000 2.875% Notes due 2020
$2,000,000,000 3.000% Notes due 2021
$750,000,000 3.375% Notes due 2023
$750,000,000 3.500% Notes due 2025
$1,000,000,000 3.750% Notes due 2028
We are offering $500,000,000 aggregate principal amount of Floating Rate Notes due 2020 (the “2020 floating rate notes”), $500,000,000 aggregate principal amount of Floating Rate Notes due 2021 (the “2021 floating rate notes” and, together with the 2020 floating rate notes, the “floating rate notes”), $2,000,000,000 aggregate principal amount of 2.875% Notes due 2020 (the “2020 notes”), $2,000,000,000 aggregate principal amount of 3.000% Notes due 2021 (the “2021 notes”), $750,000,000 aggregate principal amount of 3.375% Notes due 2023 (the “2023 notes”), $750,000,000 aggregate principal amount of 3.500% Notes due 2025 (the “2025 notes”) and $1,000,000,000 aggregate principal amount of 3.750% Notes due 2028 (the “2028 notes” and, together with the 2020 notes, the 2021 notes, the 2023 notes and the 2025 notes, the “fixed rate notes”). We refer to the floating rate notes and the fixed rate notes collectively as the “notes.”
The 2020 floating rate notes will mature on May 11, 2020 and will bear interest at a floating rate, reset quarterly, equal to Three-Month LIBOR (as defined herein) plus 29 basis points. The 2021 floating rate notes will mature on May 11, 2021 and will bear interest at a floating rate, reset quarterly, equal to Three-Month LIBOR plus 38 basis points. Interest on the floating rate notes will be payable quarterly, in arrears, on February 11, May 11, August 11 and November 11 of each year, beginning August 11, 2018.
The 2020 notes will mature on May 11, 2020 and will bear interest at the rate of 2.875% per annum. The 2021 notes will mature on May 11, 2021 and will bear interest at the rate of 3.000% per annum. The 2023 notes will mature on May 15, 2023 and will bear interest at the rate of 3.375% per annum. The 2025 notes will mature on May 15, 2025 and will bear interest at the rate of 3.500% per annum. The 2028 notes will mature on May 15, 2028 and will bear interest at the rate of 3.750% per annum. Interest on the 2020 notes and 2021 notes will be payable semi-annually, in arrears, on May 11 and November 11 of each year, beginning November 11, 2018. Interest on the 2023 notes, 2025 notes and 2028 notes will be payable semi-annually, in arrears, on May 15 and November 15 of each year, beginning November 15, 2018.
The floating rate notes are not redeemable prior to maturity. We may redeem the fixed rate notes, in whole or in part, at any time prior to their maturity at the applicable redemption prices described in this prospectus supplement.
The notes will be unsecured and will rank equally with all our other existing and future senior unsecured indebtedness and senior in right of payment to all of our other existing and future subordinated indebtedness. Our obligations under the notes will be fully and unconditionally guaranteed by certain of our subsidiaries in accordance with the terms of the indenture under which the notes will be issued. The guarantees will rank equally in right of payment with each other and all other existing and future senior unsecured indebtedness of such guarantors.
The notes will be issued only in denominations of $2,000 and integral multiples of $1,000 above that amount.
The notes are new issues of securities with no established trading market. We do not intend to apply for the notes to be listed on any securities exchange or to arrange for the notes to be quoted on any quotation system.
See “Risk factors” beginning on pageS-6 for a discussion of certain risks that you should consider in connection with an investment in the notes.
Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of the notes or determined if this prospectus supplement or the accompanying prospectus is truthful or complete. Any representation to the contrary is a criminal offense.
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| | Per 2020 Floating Rate Note | | | Total | | | Per 2021 Floating Rate Note | | | Total | | | Per 2020 Note | | | Total | | | Per 2021 Note | | | Total | | | Per 2023 Note | | | Total | | | Per 2025 Note | | | Total | | | Per 2028 Note | | | Total | |
Price to Public (1) | | | 100.000 | % | | $ | 500,000,000 | | | | 100.000 | % | | $ | 500,000,000 | | | | 99.646 | % | | $ | 1,992,920,000 | | | | 99.305 | % | | $ | 1,986,100,000 | | | | 99.616 | % | | $ | 747,120,000 | | | | 98.774 | % | | $ | 740,805,000 | | | | 99.438 | % | | $ | 994,380,000 | |
Underwriting Discounts | | | 0.200 | % | | $ | 1,000,000 | | | | 0.250 | % | | $ | 1,250,000 | | | | 0.200 | % | | $ | 4,000,000 | | | | 0.250 | % | | $ | 5,000,000 | | | | 0.350 | % | | $ | 2,625,000 | | | | 0.400 | % | | $ | 3,000,000 | | | | 0.450 | % | | $ | 4,500,000 | |
Proceeds, Before Expenses, to us (1) | | | 99.800 | % | | $ | 499,000,000 | | | | 99.750 | % | | $ | 498,750,000 | | | | 99.446 | % | | $ | 1,988,920,000 | | | | 99.055 | % | | $ | 1,981,100,000 | | | | 99.266 | % | | $ | 744,495,000 | | | | 98.374 | % | | $ | 737,805,000 | | | | 98.988 | % | | $ | 989,880,000 | |
(1) | Plus accrued interest from May 11, 2018, if settlement occurs after that date. |
The notes are expected to be delivered in book-entry form only through the facilities of The Depository Trust Company and its participants, including Euroclear Bank S.A./N.V. and Clearstream Banking, société anonyme, on or about May 11, 2018.
Joint Book-Running Managers
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BofA Merrill Lynch | | RBC Capital Markets | | Wells Fargo Securities |
Senior Co-Managers
Co-Managers
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Mizuho Securities | | MUFG | | Scotiabank | | SMBC Nikko | | US Bancorp |
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Academy Securities | | PNC Capital Markets LLC | | TD Securities |
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The Williams Capital Group, L.P. | | Blaylock Van, LLC | | Drexel Hamilton |
May 8, 2018