debt
confidence high
sentiment neutral
materiality 0.75
Carrier closes €2.35B and $3B note offerings to back Viessmann acquisition
CARRIER GLOBAL Corp
- €2.35B Euro Notes: €750M 4.375% due 2025, €750M 4.125% due 2028, €850M 4.500% due 2032.
- $3B USD Notes: $1B 5.800% due 2025, $1B 5.900% due 2034, $1B 6.200% due 2054.
- Proceeds with cash and bridge loans fund cash consideration for Viessmann climate business buy.
- Notes require special mandatory redemption if Viessmann deal not closed by Oct 25, 2024.
- Weighted average cost of new debt ~5.07%; Carrier's total long-term debt cost under 4% (CFO).