Carrier Global Corporation announced the completion of an underwritten public offering of $1.5 billion in aggregate principal amount of senior unsecured notes. The company intends to use the net proceeds to refinance existing indebtedness, including the repayment of its 2.493% notes due in 2027, with any remaining funds allocated for general corporate and working capital purposes.
Key Details
- Offering Breakdown: The offering consists of two tranches: $750 million of 5.000% notes due November 4, 2029, and $750 million of 5.350% notes due November 4, 2033.
- Use of Proceeds: The primary use of proceeds is to refinance existing debt, specifically to repay at maturity the 2.493% notes due February 15, 2027. Remaining proceeds may be used for general corporate purposes, including repaying commercial paper borrowings.
- Terms: The notes are general unsecured senior obligations. Interest is payable semi-annually in arrears on May 4 and November 4 of each year, beginning on May 4, 2027.