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  3. in march 2019, the company issued $500.0 million o

In March 2019, the Company issued $500.0 million of senior unsecured notes maturing on March...

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Accounting

In March 2019, the Company issued $500.0 million of senior unsecured notes maturing on March 1, 2026 ("2026 Term Notes"). The 2026 Term Notes accrue interest at a fixed rate of 3.40% per annum, with interest payable semi-annually. The Company received net cash proceeds of $496.2 million (for simplicity, assume the underwriting costs were zero). Were these notes issued at a premium or a discount? What was the amount of the premium or the discount?

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