Loan & DebtNov 5, 2026, 04:47 PM
Otis Worldwide Corp Issues $500M of 5.825% Notes Due 2036
AI Summary
Otis Worldwide Corp announced the issuance of $500 million in aggregate principal amount of 5.825% Notes due 2036. The net proceeds, estimated at $495.3 million, will be used to repay outstanding 2.293% Notes due April 5, 2027. The new notes bear interest at 5.825% and mature in November 2036. The offering was made under a registration statement filed earlier in the year, with Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, and HSBC Securities (USA) Inc. acting as underwriters.
Key Highlights
- Otis Worldwide Corp issued $500 million aggregate principal amount of 5.825% Notes due 2036.
- Net proceeds from the offering are estimated at approximately $495.3 million after underwriting discount and expenses.
- Proceeds will be used to fund the repayment of $500 million of 2.293% Notes due April 5, 2027.
- The new notes mature on November 5, 2036, with interest payable semi-annually.
- The notes are unsecured, unsubordinated obligations of the company.
Price Impact
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