M
ME NEWS
12 May 2025, 06:48
Eaton Capital Raises $1 Billion Through Dual Senior Notes Offering
Eaton Corporation plc announced that its subsidiary, Eaton Capital Unlimited Company, has completed the issuance of two series of senior notes totaling $1 billion to support general corporate purposes. The offerings include €500 million of 3.625% senior notes due 2035 and $500 million of 4.450% senior notes due 2030.
Net proceeds from the offerings were approximately €493.6 million and $494.3 million after deducting underwriting discounts and expenses. The funds are intended for general corporate use, which may include repayment of outstanding debt.
The notes, issued under a new indenture agreement and guaranteed by Eaton Corporation plc and certain subsidiaries, are unsecured and rank pari passu with other unsubordinated debt. Redemption provisions allow the notes to be called prior to maturity under specified yield-based pricing formulas.
Excerpt:
Eaton Capital issued €500 million and $500 million in senior notes, guaranteed by Eaton Corporation plc, to fund corporate activities including potential debt repayment.
Eaton Corporation plc announced that its subsidiary, Eaton Capital Unlimited Company, has completed the issuance of two series of senior notes totaling $1 billion to support general corporate purposes. The offerings include €500 million of 3.625% senior notes due 2035 and $500 million of 4.450% senior notes due 2030.
Net proceeds from the offerings were approximately €493.6 million and $494.3 million after deducting underwriting discounts and expenses. The funds are intended for general corporate use, which may include repayment of outstanding debt.
The notes, issued under a new indenture agreement and guaranteed by Eaton Corporation plc and certain subsidiaries, are unsecured and rank pari passu with other unsubordinated debt. Redemption provisions allow the notes to be called prior to maturity under specified yield-based pricing formulas.
Excerpt:
Eaton Capital issued €500 million and $500 million in senior notes, guaranteed by Eaton Corporation plc, to fund corporate activities including potential debt repayment.
