debt
confidence high
sentiment neutral
materiality 0.40
Johnson Controls upsizes tender offer to $105M; accepts $105M of 5.125% notes due 2045
Johnson Controls International plc
- Tender offer Aggregate Tender Cap increased from $100M to $105M; only 5.125% notes due 2045 accepted.
- $258.6M tendered of 5.125% notes due 2045; only $105M accepted at proration factor of 40.64%.
- No 4.500% notes due 2047 accepted despite $87.9M tendered; all tendered after early date rejected.
- Total consideration for accepted notes: $925.44 per $1,000 (includes $50 early tender payment); early settlement Aug 22, 2023.
- Tender offers expire Sept 5, 2023 but no further acceptances due to oversubscription at early date.