debt
confidence high
sentiment positive
materiality 0.65
Raytheon Technologies issues $2.1B new notes & launches $2.1B tender to retire higher-coupon debt
RTX Corp
- Issued $1.0B of 2.375% Notes due 2032 and $1.1B of 3.030% Notes due 2052.
- Cash tender offers up to $2.1B for 14 series; $3.96B in notes tendered early exceeding cap.
- Will accept 9 series (e.g., 6.125% Notes due 2038) on Nov 17; 5 series not accepted.
- Total consideration per $1,000: $1,441.26 for 6.125% due 2038, $1,407.12 for 5.700% due 2040.
- Refinancing expected to reduce future interest expense by replacing high-coupon debt.