Amphenol (APH) sells €1.1B of euro senior notes — 2029 and 2034 maturities
Amphenol Corporation is offering €600,000,000 of 3.375% Senior Notes due 2029 and €500,000,000 of 3.875% Senior Notes due 2034. Interest on both series is payable annually each May 12, beginning May 12, 2027. The notes are unsecured senior obligations that rank equally with Amphenol's other unsecured senior indebtedness and will be denominated and payable in euro. The company expects net proceeds of approximately €1,093.1 million, to be used to repay borrowings under its U.S. commercial paper program and a 364‑Day Delayed Draw Term Loan and for general corporate purposes. The notes may be redeemed under specified optional‑redemption formulas, redeemed upon certain changes in withholding tax treatment at 100%, and holders may require repurchase at 101% of principal if a qualifying Change of Control Repurchase Event occurs. The offering is being conducted under an S-3 shelf process and the notes will be represented by global notes for Euroclear and Clearstream.
Positive
- None.
Negative
- None.
Key Figures
Key Terms
Change of Control Repurchase Event financial
Par Call Date financial
Payment of Additional Amounts regulatory
Global notes / Euroclear / Clearstream market
Offering Details
(To Prospectus dated March 2, 2026)
€500,000,000 3.875% Senior Notes due 2034
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Prices to Public(1)
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Underwriting Discount
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Proceeds to us
(before expenses) |
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Per note
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Total
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Per note
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Total
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Per note
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Total
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2029 notes
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| | | | 99.983% | | | | | € | 599,898,000 | | | | | | 0.300% | | | |
€ 1,800,000
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| | | | 99.683% | | | | | € | 598,098,000 | | |
|
2034 notes
|
| | | | 99.973% | | | | | € | 499,865,000 | | | | | | 0.450% | | | |
€ 2,250,000
|
| | | | 99.523% | | | | | € | 497,615,000 | | |
|
Combined Total
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| | | | | | | | | € | 1,099,763,000 | | | | | | | | | |
€ 4,050,000
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| | | | | | | | | € | 1,095,713,000 | | |
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Page
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ABOUT THIS PROSPECTUS SUPPLEMENT
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FORWARD-LOOKING STATEMENTS
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TRADEMARKS
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INCORPORATION OF CERTAIN INFORMATION BY REFERENCE
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SUMMARY
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RISK FACTORS
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USE OF PROCEEDS
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CAPITALIZATION
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DESCRIPTION OF THE NOTES
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PROVISIONS RELATING TO THE NOTES WHILE REPRESENTED BY THE GLOBAL NOTES
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MATERIAL UNITED STATES FEDERAL INCOME TAX CONSEQUENCES
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| | | | S-32 | | |
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CERTAIN ERISA CONSIDERATIONS
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| | | | S-39 | | |
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UNDERWRITING (CONFLICTS OF INTEREST)
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LEGAL MATTERS
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EXPERTS
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Page
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ABOUT THIS PROSPECTUS
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NOTICE TO PROSPECTIVE INVESTORS IN THE EUROPEAN ECONOMIC AREA
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FORWARD-LOOKING STATEMENTS
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WHERE YOU CAN FIND MORE INFORMATION
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INCORPORATION OF CERTAIN INFORMATION BY REFERENCE
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RISK FACTORS
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AMPHENOL CORPORATION
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AMPHENOL TECHNOLOGIES HOLDING GMBH
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ENFORCEMENT OF CIVIL LIABILITIES
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USE OF PROCEEDS
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GUARANTOR DISCLOSURES
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DESCRIPTION OF SENIOR DEBT SECURITIES
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DESCRIPTION OF GUARANTEES
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GLOBAL SECURITIES
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PLAN OF DISTRIBUTION
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LEGAL MATTERS
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EXPERTS
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Amphenol Corporation
358 Hall Avenue
Wallingford, Connecticut 06492
Telephone No: (203) 265-8900
Amounts
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Three Months
Ended March 31, |
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Year Ended December 31,
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(in millions)
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2026
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2025
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2025
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2024
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2023
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(unaudited)
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| Statements of Income Data: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
|
Net sales
|
| | | $ | 7,620.1 | | | | | $ | 4,811.0 | | | | | $ | 23,094.7 | | | | | $ | 15,222.7 | | | | | $ | 12,554.7 | | |
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Cost of sales
|
| | | | 4,819.9 | | | | | | 3,167.0 | | | | | | 14,577.0 | | | | | | 10,083.0 | | | | | | 8,470.6 | | |
|
Selling, general and administrative expenses
|
| | | | 851.5 | | | | | | 575.2 | | | | | | 2,545.7 | | | | | | 1,855.4 | | | | | | 1,489.9 | | |
|
Operating income
|
| | | | 1,831.8 | | | | | | 1,024.8 | | | | | | 5,868.6 | | | | | | 3,156.9 | | | | | | 2,559.6 | | |
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Net income attributable to APH
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| | | | 933.0 | | | | | | 737.8 | | | | | | 4,270.3 | | | | | | 2,424.0 | | | | | | 1,928.0 | | |
| Non-GAAP Data: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
|
Adjusted operating income(a)
|
| | | | 2,080.7 | | | | | | 1,129.7 | | | | | | 6,049.8 | | | | | | 3,302.5 | | | | | | 2,594.2 | | |
|
Adjusted net income attributable to APH(a)
|
| | | | 1,372.7 | | | | | | 799.8 | | | | | | 4,272.5 | | | | | | 2,382.1 | | | | | | 1,870.4 | | |
| Statements of Cash Flow and Other Data: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
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Net cash provided by operating activities
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| | | | 1,121.5 | | | | | | 764.9 | | | | | | 5,374.7 | | | | | | 2,814.7 | | | | | | 2,528.7 | | |
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Net cash used in investing activities
|
| | | | (11,030.8) | | | | | | (2,352.6) | | | | | | (5,082.1) | | | | | | (2,648.6) | | | | | | (1,393.7) | | |
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Net cash provided by (used in) financing activities
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| | | | 2,898.3 | | | | | | (88.6) | | | | | | 7,423.2 | | | | | | 1,729.9 | | | | | | (1,012.4) | | |
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Capital expenditures
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| | | | (291.6) | | | | | | (188.6) | | | | | | (996.6) | | | | | | (665.4) | | | | | | (372.8) | | |
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As of
March 31, |
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As of December 31,
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(in millions)
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2026
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2025
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2024
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2023
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| Balance Sheet Data: | | | | | | | | | | | | | | | | | | | | | | | | | |
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Cash and cash equivalents
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| | | $ | 4,128.0 | | | | | $ | 11,130.6 | | | | | $ | 3,317.0 | | | | | $ | 1,475.0 | | |
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Short-term investments
|
| | | | 455.1 | | | | | | 303.6 | | | | | | 18.4 | | | | | | 185.2 | | |
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Working capital(b)
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| | | | 6,409.0 | | | | | | 13,464.4 | | | | | | 5,602.2 | | | | | | 3,682.6 | | |
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Total assets
|
| | | | 42,133.8 | | | | | | 36,236.9 | | | | | | 21,440.2 | | | | | | 16,526.4 | | |
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Total debt(c)
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| | | | 18,748.9 | | | | | | 15,502.0 | | | | | | 6,886.1 | | | | | | 4,337.3 | | |
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Total equity
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| | | | 14,082.4 | | | | | | 13,500.4 | | | | | | 9,847.4 | | | | | | 8,395.8 | | |
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Three Months Ended March 31,
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Year Ended December 31,
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2026
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2025
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2025
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2024
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2023
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(in millions)
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Operating
Income |
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Net Income
attributable to APH |
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Operating
Income |
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Net Income
attributable to APH |
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Operating
Income |
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Net Income
attributable to APH |
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Operating
Income |
| |
Net Income
attributable to APH |
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Operating
Income |
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Net Income
attributable to APH |
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Reported (GAAP)
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| | | $ | 1,831.8 | | | | | $ | 933.0 | | | | | $ | 1,024.8 | | | | | $ | 737.8 | | | | | $ | 5,868.6 | | | | | $ | 4,270.3 | | | | | $ | 3,156.9 | | | | | $ | 2,424.0 | | | | | $ | 2,559.6 | | | | | $ | 1,928.0 | | |
|
Amortization of acquisition-related inventory step-up
costs |
| | | | 132.0 | | | | | | 101.1 | | | | | | 60.9 | | | | | | 46.6 | | | | | | 77.8 | | | | | | 59.6 | | | | | | 18.2 | | | | | | 14.0 | | | | | | — | | | | | | — | | |
|
Acquisition-related expenses
|
| | | | 116.9 | | | | | | 99.5 | | | | | | 44.0 | | | | | | 35.5 | | | | | | 103.4 | | | | | | 89.2 | | | | | | 127.4 | | | | | | 105.3 | | | | | | 34.6 | | | | | | 30.2 | | |
|
Gain on bargain purchase acquisition
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (5.4) | | |
|
Excess tax benefits related to stock-based compensation
|
| | | | — | | | | | | (50.9) | | | | | | — | | | | | | (20.1) | | | | | | — | | | | | | (246.6) | | | | | | — | | | | | | (142.6) | | | | | | — | | | | | | (82.4) | | |
|
Discrete tax items
|
| | | | — | | | | | | 290.0 | | | | | | — | | | | | | — | | | | | | — | | | | | | 100.0 | | | | | | — | | | | | | (18.6) | | | | | | — | | | | | | — | | |
|
Adjusted (non-GAAP)(1)
|
| | | $ | 2,080.7 | | | | | $ | 1,372.7 | | | | | $ | 1,129.7 | | | | | $ | 799.8 | | | | | $ | 6,049.8 | | | | | $ | 4,272.5 | | | | | $ | 3,302.5 | | | | | $ | 2,382.1 | | | | | $ | 2,594.2 | | | | | $ | 1,870.4 | | |
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As of March 31, 2026
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(In millions)
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Historical
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As Adjusted
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Cash and cash equivalents(d)
|
| | | $ | 4,128.0 | | | | | $ | 4,238.8 | | |
| Indebtedness: | | | | | | | | | | | | | |
| Short-term borrowings including obligations under capital leases: | | | | | | | | | | | | | |
|
2026 Euro Notes of Amphenol Technologies Holding GmbH(a)(b)
|
| | | | 576.9 | | | | | | — | | |
|
364-day delayed draw term loan
|
| | | | 1,534.1 | | | | | | 934.1 | | |
|
Other
|
| | | | 0.9 | | | | | | 0.9 | | |
|
Short-term deferred debt issuance costs
|
| | | | (2.3) | | | | | | (2.3) | | |
|
Total short-term borrowings
|
| | | $ | 2,109.6 | | | | | $ | 932.7 | | |
| Long-term debt including obligations under capital lease: | | | | | | | | | | | | | |
|
Revolving credit facility
|
| | | $ | — | | | | | $ | — | | |
|
Three-year delayed draw term loan
|
| | | | 1,534.1 | | | | | | 1,534.1 | | |
|
U.S. Commercial Paper Program(c)
|
| | | | — | | | | | | 26.6 | | |
|
Euro Commercial Paper Program issued by Amphenol Technologies Holding GmbH
|
| | | | — | | | | | | — | | |
|
5.050% Senior Notes due 2027
|
| | | | 700.9 | | | | | | 700.9 | | |
|
Floating Rate Senior Notes due 2027
|
| | | | 500.0 | | | | | | 500.0 | | |
|
3.800% Senior Notes due 2027
|
| | | | 749.6 | | | | | | 749.6 | | |
|
4.375% Senior Notes due 2028
|
| | | | 749.5 | | | | | | 749.5 | | |
|
2028 Euro Notes of Amphenol Technologies Holding GmbH(a)
|
| | | | 576.1 | | | | | | 576.1 | | |
|
3.900% Senior Notes due 2028
|
| | | | 749.3 | | | | | | 749.3 | | |
|
5.050% Senior Notes due 2029
|
| | | | 449.7 | | | | | | 449.7 | | |
|
4.350% Senior Notes due 2029
|
| | | | 499.9 | | | | | | 499.9 | | |
|
2.800% Senior Notes due 2030
|
| | | | 899.7 | | | | | | 899.7 | | |
|
4.125% Senior Notes due 2030
|
| | | | 999.0 | | | | | | 999.0 | | |
|
2031 Euro Notes of Amphenol Technologies Holding GmbH(a)
|
| | | | 575.9 | | | | | | 575.9 | | |
|
2.200% Senior Notes due 2031
|
| | | | 748.5 | | | | | | 748.5 | | |
|
3.125% Euro Senior Notes due 2032(a)
|
| | | | 687.6 | | | | | | 687.6 | | |
|
4.400% Senior Notes due 2033
|
| | | | 1,248.6 | | | | | | 1,248.6 | | |
|
5.250% Senior Notes due 2034
|
| | | | 599.5 | | | | | | 599.5 | | |
|
5.000% Senior Notes due 2035
|
| | | | 746.8 | | | | | | 746.8 | | |
|
4.625% Senior Notes due 2036
|
| | | | 1,598.4 | | | | | | 1,598.4 | | |
|
5.375% Senior Notes due 2054
|
| | | | 492.5 | | | | | | 492.5 | | |
| | | |
As of March 31, 2026
|
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(In millions)
|
| |
Historical
|
| |
As Adjusted
|
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|
5.300% Senior Notes due 2055
|
| | | | 1,647.3 | | | | | | 1,647.3 | | |
|
3.375% Euro Senior Notes due 2029 offered hereby(a)
|
| | | | — | | | | | | 692.1 | | |
|
3.875% Euro Senior Notes due 2034 offered hereby(a)
|
| | | | — | | | | | | 576.7 | | |
|
Other
|
| | | | 0.5 | | | | | | 0.5 | | |
|
Long-term deferred debt issuance costs
|
| | | | (114.1) | | | | | | (121.8) | | |
|
Total long-term debt
|
| | | $ | 16,639.3 | | | | | $ | 17,927.0 | | |
|
Total indebtedness
|
| | | $ | 18,748.9 | | | | | $ | 18,859.7 | | |
|
Total equity
|
| | | $ | 14,270.1 | | | | | $ | 14,270.1 | | |
|
Total capitalization
|
| | | $ | 33,019.0 | | | | | $ | 33,129.8 | | |
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Underwriters
|
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Principal Amount
of the 2029 Notes |
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Principal Amount
of the 2034 Notes |
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Barclays Bank PLC
|
| | | € | 114,000,000 | | | | | € | 95,000,000 | | |
|
Citigroup Global Markets Limited
|
| | | € | 114,000,000 | | | | | € | 95,000,000 | | |
|
Commerzbank Aktiengesellschaft
|
| | | € | 114,000,000 | | | | | € | 95,000,000 | | |
|
HSBC Bank plc
|
| | | € | 114,000,000 | | | | | € | 95,000,000 | | |
|
BNP PARIBAS
|
| | | € | 36,000,000 | | | | | € | 30,000,000 | | |
|
J.P. Morgan Securities plc
|
| | | € | 36,000,000 | | | | | € | 30,000,000 | | |
|
Mizuho International plc
|
| | | € | 36,000,000 | | | | | € | 30,000,000 | | |
|
Standard Chartered Bank
|
| | | € | 21,000,000 | | | | | € | 17,500,000 | | |
|
ING Bank N.V., Belgian Branch
|
| | | € | 7,500,000 | | | | | € | 6,250,000 | | |
|
Siebert Williams Shank & Co., LLC
|
| | | € | 7,500,000 | | | | | € | 6,250,000 | | |
|
Total
|
| | | € | 600,000,000 | | | | | € | 500,000,000 | | |
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Paid by the Company
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Per note
|
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Total
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2029 notes
|
| | | | 0.300% | | | | | € | 1,800,000 | | |
|
2034 notes
|
| | | | 0.450% | | | | | € | 2,250,000 | | |
|
Combined Total
|
| | | | | | | | | € | 4,050,000 | | |
Guarantees
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Page
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|
ABOUT THIS PROSPECTUS
|
| | | | 1 | | |
|
NOTICE TO PROSPECTIVE INVESTORS IN THE EUROPEAN ECONOMIC AREA
|
| | | | 3 | | |
|
FORWARD-LOOKING STATEMENTS
|
| | | | 4 | | |
|
WHERE YOU CAN FIND MORE INFORMATION
|
| | | | 4 | | |
|
INCORPORATION OF CERTAIN INFORMATION BY REFERENCE
|
| | | | 5 | | |
|
RISK FACTORS
|
| | | | 6 | | |
|
AMPHENOL CORPORATION
|
| | | | 7 | | |
|
AMPHENOL TECHNOLOGIES HOLDING GMBH
|
| | | | 8 | | |
|
ENFORCEMENT OF CIVIL LIABILITIES
|
| | | | 9 | | |
|
USE OF PROCEEDS
|
| | | | 11 | | |
|
GUARANTOR DISCLOSURES
|
| | | | 12 | | |
|
DESCRIPTION OF SENIOR DEBT SECURITIES
|
| | | | 13 | | |
|
DESCRIPTION OF GUARANTEES
|
| | | | 25 | | |
|
GLOBAL SECURITIES
|
| | | | 26 | | |
|
PLAN OF DISTRIBUTION
|
| | | | 30 | | |
|
LEGAL MATTERS
|
| | | | 32 | | |
|
EXPERTS
|
| | | | 32 | | |
Amphenol Corporation
358 Hall Avenue
Wallingford, Connecticut 06492
Telephone No: (203) 265-8900
€500,000,000 3.875% Senior Notes due 2034