Johnson Controls prices $1.7bn senior notes offering

11 Jun '14

2 min read

Johnson Controls, Inc., a global multi- industrial company, announced that it priced a public offering of $1.7 billion.

This aggregate principal amount of fixed rate senior notes consisting of the following:

-$300 million of senior notes that mature in 2017 and bear interest at a rate of 1.400%,

-$500 million of senior notes that mature in 2024 and bear interest at a rate of 3.625%,

-$450 million of senior notes that mature in 2044 and bear interest at a rate of 4.625%,

-$450 million of senior notes that mature in 2064 and bear interest at a rate of 4.950%.

The Company expects that it will receive approximately $1.68 billion of net proceeds from the offering after deducting underwriting discounts and commissions and expenses of the offering. The Company intends to use the net proceeds from the offering to finance the Company's previously announced acquisition of Air Distribution Technologies and for general corporate purposes.

Goldman, Sachs & Co., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Barclays Capital Inc., Citigroup Global Markets Inc. and Wells Fargo Securities, LLC are serving as joint book-running managers for the offering.

Johnson Controls is a global diversified technology and industrial leader serving customers in more than 150 countries. Our 170,000 employees create quality products, services and solutions to optimize energy and operational efficiencies of buildings; lead-acid automotive batteries and advanced batteries for hybrid and electric vehicles; and interior systems for automobiles. Our commitment to sustainability dates back to our roots in 1885, with the invention of the first electric room thermostat.

Johnson Controls