Textron plans to sell fixed-rate senior notes via two bookrunners

By Marisa Wong

Los Angeles, Nov. 7 – Textron Inc. is offering fixed-rate senior notes, according to a 424B3 filing with the Securities and Exchange Commission.

The notes will feature an optional make-whole call, followed by an optional par call.

The notes will also be putable at 101 if a change-of-control triggering event occurs.

J.P. Morgan Securities LLC and Goldman Sachs & Co. LLC are the joint bookrunners for the offering.

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

Bracewell LLP and in-house counsel will advise the issuer on legal matters. Davis Polk & Wardwell LLP will act as counsel to the underwriters.

Proceeds will be used for general corporate purposes, including the redemption or repayment of some of the company’s debt, including the $350 million outstanding principal amount of its 4.3% notes due March 1, 2024.

Textron is a Providence, R.I.-based multi-industry company conducting business in six operating segments: Textron Aviation, Bell, Textron Systems, Industrial, Textron eAviation, which represent the company’s manufacturing businesses, and Finance, which represents its captive finance business.

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