Johnson Controls offering to draw $1.7 billion

Organizations:

Glendale-based global multi-industrial firm Johnson Controls Inc. has priced a public offering of $1.7 billion in fixed rate senior notes.

The offering consists of: $300 million in senior notes with a 1.4 percent interest rate, which mature in 2017; $500 million in senior notes with a 3.6 percent interest rate, which mature in 2024; $450 million in senior notes with an interest rate of 4.6 percent, which mature in 2044; $450 million in senior notes with a 4.9 percent interest rate, which mature in 2064.

Johnson Controls expects to gain about $1.7 billion in net proceeds from the offering. The funds will be used to finance the company’s $1.6 billion acquisition of Richardson, Texas-based Air Distribution Technologies from the Canada Pension Plan Investment Board, as well as for general corporate purposes. ADT is a leading North American independent air distribution and ventilation product provider.

Sign up for the BizTimes email newsletter

Stay up-to-date on the people, companies and issues that impact business in Milwaukee and Southeast Wisconsin

What's New

BizPeople

Sponsored Content

BIZEXPO | EARLY BIRD PRICING | REGISTER BY MAY 1ST AND SAVE

Stay up-to-date with our free email newsletter

Keep up with the issues, companies and people that matter most to business in the Milwaukee metro area.

By subscribing you agree to our privacy policy.

No, thank you.
BizTimes Milwaukee