Parker-Hannifin completes $3.6B note offering to finance Meggitt acquisition

Parker-Hannifin Corp

Issued $1.4B of 3.650% notes due 2024, $1.2B of 4.250% notes due 2027, $1.0B of 4.500% notes due 2029.
Net proceeds, with term loan, commercial paper, and cash, will fund proposed Meggitt acquisition.
Notes subject to special mandatory redemption at 101% if acquisition not closed by April 3, 2023.
Notes are senior unsecured obligations ranking equally with other senior unsecured debt.
Interest paid semi-annually; make-whole redemption provisions apply before specified dates.

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