Ingersoll Rand completes $3.3B bond offering, $2.6B revolver, upgraded to BBB/Baa2 by all three agencies

Ingersoll Rand Inc.

Issued $3.3B senior unsecured notes across five tranches (2027-2054) with coupons from 5.176% to 5.700%.
Net proceeds $3.276B: $1.236B to repay secured term loans, $2B to fund ILC Dover acquisition, remainder general corporate.
New $2.6B senior unsecured revolving credit facility with 5-year maturity, replacing secured credit facilities.
Upgraded one notch by S&P, Fitch, Moody's to BBB/BBB/Baa2; debt portfolio now fully unsecured investment grade.
CFO cites investor enthusiasm and transformation to fully unsecured capital structure.

item 1.01 item 1.02 item 2.03 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Ingersoll Rand Inc. amended Supplemental Indenture with Deutsche Bank Trust Company Americas (effective 2024-05-10).

Action: amendment
Agreement: notes offering
Counterparty: Deutsche Bank Trust Company Americas
Effective: 2024-05-10

Exact text from the filing

The Notes were issued on May 10, 2024, pursuant to a Base Indenture, dated as of August 14, 2023 (the “Base Indenture”), between the Company and Deutsche Bank Trust Company Americas, as trustee (in such capacity, the “Trustee”), as supplemented by the third supplemental indenture (the “Supplemental Indenture” and, together with the Base Indenture, the “Indenture”) dated as of May 10, 2024, between the Company and the Trustee.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Ingersoll Rand Inc. entered into Underwriting Agreement with BofA Securities, Inc., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Mizuho Securities USA LLC (effective 2024-05-07).

Action: entry
Agreement: underwriting
Counterparty: BofA Securities, Inc., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Mizuho Securities USA LLC
Effective: 2024-05-07

Exact text from the filing

On May 7, 2024, Ingersoll Rand Inc. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) among BofA Securities, Inc., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Mizuho Securities USA LLC, as representatives of the several underwriters named therein (the “Underwriters”), with respect to the Company’s issuance and sale of $700,000,000 aggregate principal amount of the Company’s 5.197% Senior Notes due 2027 (the “2027 Notes”), $750,000,000 aggregate principal amount of the Company’s 5.176% Senior Notes due 2029 (the “2029 Notes”), $500,000,000 aggregate principal amount of the Company’s 5.314% Senior Notes due 2031 (the “2031 Notes”), $750,000,000 aggregate principal amount of the Company’s 5.450% Senior Notes due 2034 (the “2034 Notes”) and $600,000,000 aggregate principal amount of the Company’s 5.700% Senior Notes due 2054 (the “2054 Notes” and, together with the 2027 Notes, the 2029 Notes, the 2031 and the 20

View on SEC.gov

290 material agreements filed in the last 30 days. Browse all material agreements →

Ingersoll Rand Inc. filing history →

Source: SEC EDGAR

accession 0001140361-24-025480

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.