Carrier Announces Reference Yields for Its Cash Tender Offers for Its Outstanding Debt Securities
Title of Security |
CUSIP Number/ ISIN Number |
Principal Amount Outstanding |
Acceptance Priority Level |
Series Tender Cap(1) |
|
Reference Yield(2) |
Bloomberg Reference Page |
Fixed Spread |
Early Tender Payment (3) |
Total Consideration(4) |
2.242% Senior Notes due 2025 |
14448CAN4 (SEC) / 14448CAF1 (144A) / USU1453PAE17 |
|
1 |
|
1.750% UST |
2.519% |
FIT1 |
+70 bps |
|
|
2.493% Notes due |
14448CAP9 (SEC) / 14448CAH7 (144A) / USU1453PAF81 |
|
2 |
N/A |
1.875% UST due |
2.496% |
FIT1 |
+95 bps |
|
|
(1) |
The offers with respect to the Securities are subject to the Aggregate Tender Cap and, in the case of the Notes due 2025, the Series Tender Cap. The Company will purchase up to the Aggregate Tender Cap of its Securities, subject to the Acceptance Priority Levels as set forth in the table above (each, an "Acceptance Priority Level") and the Series Tender Cap. The Company reserves the right to increase, decrease or eliminate the Aggregate Tender Cap and/or the Series Tender Cap at any time, subject to compliance with applicable law. |
(2) |
Each Reference Yield was determined at |
(3) |
Per |
(4) |
Payable per each |
The Tender Offers are being made pursuant to an offer to purchase, dated
The applicable consideration (the "Total Consideration") offered per
The Company's obligation to accept for payment and to pay for the Securities validly tendered in the Tender Offers is not subject to any minimum tender condition, but is subject to the satisfaction or waiver of the conditions described in the Offer to Purchase. The Company reserves the right, subject to applicable law, at any time to (i) waive any and all conditions to any of the Tender Offers, (ii) extend or terminate any of the Tender Offers, (iii) increase, decrease or eliminate the Aggregate Tender Cap, (iv) increase, decrease or eliminate the Series Tender Cap, or (v) otherwise amend any of the Tender Offers in any respect.
Information Relating to the Tender Offers
J.P. Morgan and Morgan Stanley are the dealer managers (the "Dealer Managers") for the Tender Offers. Investors with questions regarding the Tender Offers may contact J.P. Morgan at (866) 834-4666 (toll-free) or (212) 834-4045 (collect) and Morgan Stanley at (800) 624-1808 (toll-free) or (212) 761-1057 (collect).
None of the Company or its affiliates, their respective boards of directors, the Dealer Managers, the Tender and Information Agent or the trustee with respect to any series of Securities is making any recommendation as to whether holders should tender any Securities in response to any of the Tender Offers, and neither the Company nor any such other person has authorized any person to make any such recommendation. Holders of Securities must make their own decision as to whether to tender any of their Securities, and, if so, the principal amount of Securities to tender.
This press release shall not constitute an offer to sell, a solicitation to buy or an offer to purchase or sell any securities. The Tender Offers are being made only pursuant to the Offer to Purchase and only in such jurisdictions as is permitted under applicable law.
The full details of the Tender Offers, including complete instructions on how to tender Securities, are included in the Offer to Purchase. The Offer to Purchase, including materials incorporated by reference therein, contains important information that should be read by holders of Securities before making a decision to tender any Securities. Copies of the Offer to Purchase may be obtained from
About Carrier
As the leading global provider of healthy, safe, sustainable and intelligent building and cold chain solutions,
Forward-Looking Statements
This communication contains statements which, to the extent they are not statements of historical or present fact, constitute "forward-looking statements" under the securities laws. These forward-looking statements are intended to provide management's current expectations or plans for Carrier's future operating and financial performance, based on assumptions currently believed to be valid. Forward-looking statements can be identified by the use of words such as "believe," "expect," "expectations," "plans," "strategy," "prospects," "estimate," "project," "target," "anticipate," "will," "should," "see," "guidance," "outlook," "confident," "scenario" and other words of similar meaning in connection with a discussion of future operating or financial performance or the separation from United Technologies Corporation (the "Separation"), since renamed Raytheon Technologies Corporation. Forward-looking statements may include, among other things, statements relating to future sales, earnings, cash flow, results of operations, uses of cash, share repurchases, tax rates and other measures of financial performance or potential future plans, strategies or transactions of Carrier, the estimated costs associated with the Separation, Carrier's plans with respect to its indebtedness and other statements that are not historical facts. All forward-looking statements involve risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. For additional information on identifying factors that may cause actual results to vary materially from those stated in forward-looking statements, see Carrier's reports on Forms 10-K, 10-Q and 8-K filed with or furnished to the
CARR-IR
Contact: |
Media Inquiries |
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561-365-1101 |
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Investor Relations |
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561-365-2251 |
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