Carrier Global Corporation Announces Closing of €2.35 Billion and $3.0 Billion Notes Offerings
"We're very pleased with the outcome of this process and the overwhelming interest in our offering," said Patrick Goris, Senior Vice President & Chief Financial Officer. "Thank you to all of our team members and partners for their support, as well as to our investors for their continued confidence in Carrier. The weighted average cost of the debt associated with these offerings is approximately 5.07%, inclusive of the impact of our interest rate locks, and this results in an overall weighted average cost of Carrier's outstanding long-term debt of under 4%."
The Company intends to use the net proceeds from the offerings and sale of the Notes, together with cash on hand and borrowings under the Company's existing term loan credit facilities and bridge facility to fund the cash portion of the consideration for the Company's previously announced acquisition of the climate solutions business of Viessmann Group GmbH & Co. KG (the "Acquisition") and pay fees and expenses in connection with the Acquisition. The Notes are subject to a special mandatory redemption if the Acquisition is not consummated by
Interest on each series of the Euro Notes began accruing on
Interest on each series of the USD Notes began accruing on
The Notes were offered only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and outside
This press release shall not constitute an offer to sell or the solicitation of an offer to purchase the Notes or any other securities and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such offering, solicitation or sale would be unlawful.
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. Forward-looking statements may include, among other things, statements relating to the proposed offering of the Notes, statements relating to the Acquisition, 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, 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
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