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Long-Term Debt
 9 Months Ended
Sep. 30, 2024
Debt Disclosure [Abstract]  
Long-Term Debt Long-Term Debt
On August 21, 2024, the Company completed a public offering of $500.0 aggregate principal amount of 4.500% senior unsecured notes due October 15, 2029 (the “2029 Notes”), $500.0 aggregate principal amount of 4.750% senior unsecured notes due February 15, 2032 (the “2032 Notes”), and $1,000.0 aggregate principal amount of 4.900% senior unsecured notes due October 15, 2034 (the “2034 Notes” and, collectively with the 2029 Notes and the 2032 Notes, the “Notes”). The net proceeds from the issuance of the Notes were used to repay a portion of the borrowings outstanding under our unsecured credit facility, including borrowings incurred on August 20, 2024 to fund the purchase price of the Transact acquisition, as well as to repay a portion of the senior notes due September 15, 2024.

Each series of Notes bears interest at a fixed rate, as described above. Interest on the 2029 Notes and the 2034 Notes will be payable semi-annually in arrears on April 15 and October 15 of each year, beginning April 15, 2025. Interest on the 2032 Notes will be payable semi-annually in arrears on February 15 and August 15 of each year, beginning February 15, 2025.

Roper may redeem some or all of the Notes at any time or from time to time, at 100% of their principal amount, plus a make-whole premium based on a spread to U.S. Treasury securities. Roper is also entitled to redeem some or all of the Notes at 100% of their principal amount plus accrued and unpaid interest, on or after applicable par call dates in advance of maturity.

The Notes are unsecured senior obligations of the Company and rank equally in right of payment with all of our existing and future unsecured senior indebtedness. The Notes are effectively subordinated in right of payment to any of our future secured indebtedness to the extent of the value of the collateral securing such indebtedness. The Notes are not, and will not be, guaranteed by any of our subsidiaries and are effectively subordinated in right of payment to all existing and future indebtedness and other liabilities of our subsidiaries.

On September 15, 2024, $500.0 of 2.350% senior notes due 2024 were repaid at maturity using borrowings under our unsecured credit facility as well as a portion of the net proceeds from the issuance of the Notes.