Otis issues $600M 5.125% notes due 2031; sub issues €850M 2.875% notes due 2027

Otis Worldwide Corp

Otis issued $600M of 5.125% Notes due 2031; net proceeds ~$594.5M.
Highland Holdings (Otis sub) issued €850M of 2.875% Notes due 2027; net ~€842M (~$902M).
Proceeds to fund repayment of $1.3B 2.056% notes due April 2025 and general corporate purposes.
Otis fully guarantees Highland Notes on unsecured unsubordinated basis.
Both issuances closed Nov 19, 2024; interest payable semi-annually starting May/Nov 2025.

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