Eaton closes $2.0B senior notes offering; net proceeds $1.98B for debt redemption

Eaton Corp plc

Principal $2.0B; net proceeds ~$1.98B after underwriting discount and expenses.
Issued 4.150% sustainability-linked notes due 2033 and 4.700% notes due 2052.
Proceeds to redeem Eaton's 2.750% notes due 2022 and 3.68% notes due 2023, plus general corporate purposes.
Interest rate on sustainability-linked notes steps up 25bps if 2027 emissions target unmet.
Notes are unsecured, unsubordinated; guaranteed by parent and subsidiaries.

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