Otis subsidiary issues €1.6B in three tranches of senior notes to fund Zardoya tender offer

Otis Worldwide Corp

Highland Holdings issued €500M 0.000% notes due 2023, €600M 0.318% notes due 2026, and €500M 0.934% notes due 2031, guaranteed by Otis.
Net proceeds of ~€1.6B ($1.8B) will be used to purchase Zardoya shares pursuant to the ongoing tender offer.
On Nov 12, 2021, Otis terminated the CNMV guarantees and bridge loan commitments in connection with the note offering.
Tender offer price adjusted to €6.93 per share after Zardoya dividend paid on Oct 11, 2021.

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