Otis subsidiary Highland prices €1.6B notes offering to fund Zardoya tender offer

Otis Worldwide Corp

Highland priced €500M 0.000% Notes due 2023, €600M 0.318% Notes due 2026, €500M 0.934% Notes due 2031.
Net proceeds estimated at €1.6B ($1.8B) after underwriting discount and expenses.
Proceeds will be used to purchase Zardoya Otis shares at €6.93 per share under previously announced tender offer.
Notes are fully and unconditionally guaranteed by Otis Worldwide Corporation.
Issuance expected to close on November 12, 2021.

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