Johnson Controls Announces Pricing of $500 Million Debt Offering

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Mar 04, 2010, 05:36 ET

MILWAUKEE, March 4 /PRNewswire/ -- Johnson Controls, Inc. (NYSE: JCI) (the "Company"), a global multi-industrial leader in energy efficiency and sustainability, today announced that it priced a public offering of $500 million aggregate principal amount of senior notes. The senior notes have an interest rate of 5.000% and will be due on March 30, 2020.

The Company expects that it will receive approximately $494.2 million of net proceeds from the offering after deducting underwriting discounts and commissions and other expenses of the offering. The Company intends to use the net proceeds from the offering for general corporate purposes, including to repay short-term indebtedness that it has incurred to finance working capital requirements.

Banc of America Securities LLC, Citigroup Global Markets Inc., Barclays Capital Inc. and ING Financial Markets LLC are serving as joint book-running managers for the offering.

The offering is being made under the Company's shelf registration statement filed with the Securities and Exchange Commission and only by means of a prospectus supplement and accompanying prospectus. A copy of the prospectus supplement and accompanying prospectus relating to the offering may be obtained from either Banc of America Securities LLC, 100 West 33rd Street, New York, NY 10001, Attention: Prospectus Department or by calling 1-800-294-1322, or Citigroup Global Markets Inc., Brooklyn Army Terminal 140, 58th Street, 8th Floor, Brooklyn, NY 11220, Attn: Prospectus Department, or by calling (877) 858-5407.

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor will there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Johnson Controls

Johnson Controls is the global leader that brings ingenuity to the places where people live, work and travel. By integrating technologies, products and services, we create smart environments that redefine the relationships between people and their surroundings. Our team of 130,000 employees creates a more comfortable, safe and sustainable world through our products and services for more than 200 million vehicles, 12 million homes and one million commercial buildings. Our commitment to sustainability drives our environmental stewardship, good corporate citizenship in our workplaces and communities, and the products and services we provide to customers.

SOURCE Johnson Controls, Inc.