Johnson Controls Announces Pricing of $2.5 Billion Debt Offering
MILWAUKEE, Jan. 10, 2006 -- Johnson Controls, Inc. (JCI) today announced that it had priced a public offering of $2.5 billion in floating and fixed rate notes consisting of the following:
(Logo: http://www.newscom.com/cgi-bin/prnh/20030423/JCILOGO ) $500 Million - 2-year floating rate notes, priced at par, to yield three- month LIBOR plus twenty three basis points $800 Million - 5-year senior notes with a coupon of 5.25%, priced at 99.987 to yield 5.253% $800 Million - 10-year senior notes with a coupon of 5.5%, priced at 99.886 to yield 5.515% $400 Million - 30-year senior notes with a coupon of 6.0%, priced at 98.645 to yield 6.099%
The net proceeds from this offering, which is expected to close January 17, 2006, will be used to refinance commercial paper issued to finance the December 9, 2005 acquisition of York International Corporation.
The offering was marketed through a group of underwriters, including Banc of America Securities LLC, Citigroup Corporate and Investment Banking, and J.P. Morgan Securities Inc. as joint book-running managers.
The offering is being made only by means of a prospectus, a copy of which may be obtained from Banc of America Securities LLC by directing a request for the same to Banc of America Securities LLC, Prospectus Department, 100 West 33rd Street, 3rd Floor, New York, New York 10001, Citigroup Global Markets Inc., 388 Greenwich St., New York, NY 10013, or JPMorgan Securities, 270 Park Avenue, Syndicate Desk, 8th Floor, New York, New York 10017. Alternatively, the prospectus may be obtained by visiting EDGAR on the SEC Web site at http://www.sec.gov/ .
Johnson Controls is a global leader in interior experience, building efficiency and power solutions. The company provides innovative automotive interiors that help make driving more comfortable, safe and enjoyable. For buildings, it offers products and services that optimize energy use and improve comfort and security. Johnson Controls also provides batteries for automobiles and hybrid electric vehicles, along with systems engineering and service expertise. Johnson Controls has employees in more than 1,000 locations serving customers in 125 countries. Founded in 1885, the company is headquartered in Milwaukee, Wisconsin.
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