Pentair issues $400M 5.9% senior notes due 2032 to fund Manitowoc Ice buy

PENTAIR plc

$400M aggregate principal of 5.900% Senior Notes due 2032 issued by Pentair Finance, guaranteed by Pentair plc.
Proceeds to partly finance $1.6B acquisition of Manitowoc Ice from Welbilt, along with $1.0B term loan facility.
Notes mature July 15, 2032; interest 5.9% payable semi-annually starting Jan 15, 2023.
Special mandatory redemption at 101% if acquisition not closed by Jan 14, 2023 (extendable to Apr 14, 2023).

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