Otis issues $700M 4.488% notes due 2029 to refinance near-term debt

Otis Worldwide Corp

Issued $700M aggregate principal of 4.488% Notes due May 7, 2029.
Net proceeds of ~$695.2M from underwriting discount and expenses.
Proceeds to fund repayment of €600M 0.318% Notes due Dec 15, 2026.
Remainder to repay commercial paper and for general corporate purposes.
Interest payable May 7 and Nov 7 starting Nov 7, 2026; make-whole call before Apr 7, 2029.

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