United Technologies' Big Bond Deal

$9.8 bln offering to help finance acquisition of Goodrich would be largest U.S. corporate bond sale in more than three years.

United Technologies Corp. plans to raise $9.8 billion in the largest U.S. corporate bond sale in more than three years to help finance its $16.5 billion acquisition of Goodrich Corp.

The maker of Sikorsky helicopters and Pratt & Whitney engines, which last tapped the market more than two years ago, is selling debt in six portions ranging from 18-month floating- rate notes to 30-year bonds, the Hartford, Connecticut-based company said today in a regulatory filing.

Elections in Greece

The company plans to sell floating-rate debt in two portions, including $1 billion of 18-month notes that may yield 27 basis points more than the London interbank offered rate and $500 million of three-year notes at 50 basis points more than Libor, a borrowing benchmark, according to a person with knowledge of the transaction.

Page 2 of 2

Copyright 2016 Bloomberg. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Comments

Advertisement. Closing in 15 seconds.