Loan & DebtMay 14, 2026, 04:39 PM
Fortive Issues $1.1B Senior Notes Due 2031 (4.750%) & 2036 (5.250%)
AI Summary
Fortive Corporation completed an underwritten offering of $1.1 billion aggregate principal amount of senior notes. This includes $600 million of 4.750% Notes due 2031 and $500 million of 5.250% Notes due 2036. The company intends to use the net proceeds primarily to refinance certain existing indebtedness, specifically its 3.150% senior notes maturing on June 15, 2026, and for general corporate purposes. The notes are unsecured obligations ranking equally with other unsecured and unsubordinated indebtedness.
Key Highlights
- Fortive completed an underwritten offering of $1.1 billion aggregate principal amount of senior notes.
- Issued $600 million of 4.750% Notes due May 15, 2031.
- Issued $500 million of 5.250% Notes due May 15, 2036.
- Net proceeds will be used to refinance existing indebtedness, including 3.150% senior notes due June 15, 2026.
- Notes are general unsecured obligations, ranking equally with existing and future unsecured debt.
- The notes are redeemable at the company's option, with make-whole prices prior to maturity.
- Indenture includes covenants limiting secured indebtedness and sale and leaseback transactions.
- A change of control triggering event requires an offer to repurchase notes at 101% of principal.
Price Impact
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