Loan & DebtSep 10, 2026, 04:18 PM
Parker-Hannifin Prices $2.4B USD and €2.025B EUR Senior Notes Offerings
AI Summary
Parker-Hannifin Corporation announced the pricing of two significant debt offerings: a $2.4 billion issuance of U.S. dollar-denominated senior notes and a €2.025 billion issuance of Euro-denominated senior notes. The proceeds from these offerings are earmarked to repay borrowings under a 364-Day Term Loan Agreement, which was incurred in connection with the company's acquisition of Filtration Group Corporation. Both offerings are expected to close around September 14, 2026.
Key Highlights
- Parker-Hannifin priced a $2.4 billion offering of U.S. dollar-denominated senior notes across multiple maturities (2028, 2029, 2031, 2033) with interest rates ranging from 4.750% to 5.300%.
- Parker-Hannifin priced a €2.025 billion offering of Euro-denominated senior notes across multiple maturities (2030, 2032, 2036) with interest rates ranging from 3.800% to 4.375%.
- The company intends to use the net proceeds from both offerings to repay borrowings under its 364-Day Term Loan Agreement.
- The repayment of the term loan is related to the acquisition of Filtration Group Corporation.
- The offerings are expected to close on or about September 14, 2026, subject to customary closing conditions.
Price Impact
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