Parker-Hannifin Corporation announced the pricing of two separate senior note offerings, one totaling $2.4 billion and another totaling €2.025 billion. The company intends to use the net proceeds from both offerings, combined with cash on hand, to repay debt incurred from its acquisition of Filtration Group Corporation.
Key Details
- U.S. Dollar Offering: The $2.4 billion offering consists of four tranches: $525M of 4.750% notes due 2028, $500M of 4.875% notes due 2029, $750M of 5.125% notes due 2031, and $625M of 5.300% notes due 2033.
- Euro Offering: The €2.025 billion offering consists of three tranches: €700M of 3.800% notes due 2030, €800M of 4.040% notes due 2032, and €525M of 4.375% notes due 2036.
- Use of Proceeds & Closing: Proceeds will be used to repay borrowings related to the acquisition of Filtration Group Corporation. Both offerings are expected to close on or about September 14, 2026.