Johnson Controls Announces Completion of Debt Offering
MILWAUKEE, March 9 /PRNewswire/ -- Johnson Controls, Inc. (NYSE: JCI) (the "Company"), a global multi-industrial leader in energy efficiency and sustainability, today announced that it has completed its previously announced 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 received 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 served as joint book-running managers for the offering.
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.
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