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Eaton plans to conduct two-tranche sale of fixed-rate notes
By Devika Patel
Knoxville, Tenn., Sept. 6 – Eaton Corp. intends to price an offering of notes in two tranches, according to a 424B5 filed with the Securities and Exchange Commission.
The notes will be sold in two fixed-rate tranches due 2027 and 2047.
The notes will have make-whole calls until three months prior to maturity for the 2027 notes and six months prior to maturity for the 2047 notes and par calls after those dates.
BofA Merrill Lynch, Citigroup Global Markets Inc., Goldman Sachs & Co. and J.P. Morgan Securities LLC are the bookrunners.
Proceeds will be used to repay the company's 1.5% notes due 2017.
Eaton is a Cleveland-based diversified industrial manufacturer.
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