Roper Technologies, Inc. (NASDAQ:ROP) (the "Company") announced today the pricing of its public offering of $500 million of 4.500% Senior Notes due 2029 (the "2029 notes"), $500 million of 4.750% Senior Notes due 2032 (the "2032 notes"), and $1 billion of 4.900% Senior Notes due 2034 (the "2034 notes" and, collectively with the 2029 notes and 2032 notes, the "notes"). The offering is expected to close, subject to the satisfaction of customary closing conditions, on August 21, 2024.
The 2029 notes will bear interest at the rate of 4.500% per year, the 2032 notes will bear interest at the rate of 4.750% per year, and the 2034 notes will bear interest at the rate of 4.900% per year. Interest on the 2029 notes and 2034 notes will be payable semi-annually on April 15 and October 15 of each year, beginning April 15, 2025, and interest on the 2032 notes will be payable semi-annually on February 15 and August 15 of each year, beginning February 15, 2025. The 2029 notes will mature on October 15, 2029, the 2032 notes will mature on February 15, 2032, and the 2034 notes will mature on October 15, 2034. The notes will be senior unsecured obligations of the Company.
Net proceeds from the sale of the notes will be used (i) to repay a portion of the borrowings outstanding under the Company's five-year unsecured credit facility, including borrowings incurred to fund the purchase price of the Company's expected acquisition of Transact Campus, Inc. ("Transact"), (ii) to repay the Company's outstanding 2.350% Senior Notes due 2024, (iii) for general corporate purposes, including future acquisitions, or (iv) for any combination of the foregoing categories. This offering is not conditioned upon the consummation of the Transact acquisition and the Transact acquisition is not conditioned on the completion of this offering.