United Technologies Corp. plans to raise $9.8 billion in thelargest U.S. corporate bond sale in more than three years to helpfinance its $16.5 billion acquisition of Goodrich Corp.
The maker of Sikorsky helicopters and Pratt & Whitneyengines, which last tapped the market more than two years ago, isselling debt in six portions ranging from 18-month floating- ratenotes to 30-year bonds, the Hartford, Connecticut-based companysaid today in a regulatory filing.
United Technologies, with investment-grade ratings from Moody'sInvestors Service and Standard & Poor's, is seeking to lurebond buyers as turmoil in Europe sends them to safer assets. Whilespeculative-grade bonds in the U.S. have declined 1.3 percent thismonth, investment grade is unchanged, according to Bank of AmericaMerrill Lynch index data.
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