debt
confidence high
sentiment neutral
materiality 0.55
Trane Technologies issues $500M 5.100% Senior Notes due 2034 to refinance maturing debt
Trane Technologies plc
- Issuer: Trane Technologies Financing Limited, a wholly-owned subsidiary; guaranteed by parent and other affiliates.
- Notes: $500M aggregate principal, 5.100% interest, mature June 13, 2034.
- Proceeds to repay $500M 3.550% Senior Notes due 2024 at maturity plus fees and general corporate purposes.
- Interest semi-annual on June 13 and Dec 13; redemption at make-whole prior to March 13, 2034, then par.
- Covenants include limits on liens, sale-leaseback, and consolidation; change-of-control put at 101%.