Illumina, Inc. entered into definitive agreements on October 8, 2026, to establish an unsecured commercial paper program. The program allows the company to issue short-term, unsecured commercial paper notes under an exemption from registration under the Securities Act of 1933.
The maximum aggregate principal amount of commercial paper notes outstanding under the program at any one time is capped at $1.0 billion. The company may borrow, repay, and re-borrow funds from time to time under this arrangement.
As of the date of the report, no commercial paper notes were outstanding under the program. The maturities of the notes will vary but may not exceed 397 days from the date of issuance. The notes are expected to be issued at a discount from par or at par with varying interest rates on a fixed or floating basis.
The net proceeds from the issuance of the notes are expected to be used for general corporate purposes. Three commercial paper dealers have been selected to act as dealers under the program, and a national bank will serve as the issuing and paying agent. The dealers will purchase the notes from the company or arrange for their sale to purchasers, subject to customary terms and representations.
