Eaton to offer fixed-rate notes via three bookrunners

By Mary-Katherine Stinson

Lexington, Ky., May 15 – Eaton Corp. will offer fixed-rate notes, according to a 424B filing with the Securities and Exchange Commission.

The notes will be guaranteed by parent Eaton Corp. plc.

The notes feature a make-whole call option until some months prior to maturity. Following that, they are callable at par.

The notes will become putable at par in the event of a change of control.

BNP Paribas Securities Corp., Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are acting as joint bookrunners for the offering.

Bank of New York Mellon Trust Co., NA will be the trustee.

White & Case LLP will act as legal counsel for Eaton. In-house counsel will also be used.

Counsel for Eaton with regards to foreign law will be the following: McCann FitzGerald will be counsel regarding Irish law; White & Case (Luxembourg) Sarl regarding Luxembourg law; and De Brauw Blackstone Westbroek NV regarding Dutch law.

Shearman & Sterling LLP will act as counsel for the bookrunners.

Proceeds will be used for general corporate purposes.

Eaton is a Cleveland-based intelligent power management company.

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