New Issue: Textron sells $350 million 3.65% 10-year notes at 130 bps spread over Treasuries

By Cristal Cody

Tupelo, Miss., Feb. 27 – Textron Inc. sold $350 million of 3.65% 10-year senior notes on Monday with a spread of 130 basis points over Treasuries, according to an FWP filing with the Securities and Exchange Commission.

The notes (Baa3/BBB) priced at 99.874 to yield 3.665%.

Goldman Sachs & Co., BofA Merrill Lynch, SMBC Nikko Securities America, Inc. and Wells Fargo Securities LLC were the bookrunners.

Proceeds will be used for general corporate purposes.

The multi-industry company has units including aircraft, defense and finance. It is based in Providence, R.I.

Issuer:	Textron Inc.
Amount:	$350 million
Description:	Senior notes
Maturity:	March 15, 2027
Bookrunners:	Goldman Sachs & Co., BofA Merrill Lynch, SMBC Nikko Securities America, Inc. and Wells Fargo Securities LLC
Senior co-managers:	MUFG and U.S. Bancorp Investments, Inc.
Co-managers:	BNY Mellon Capital Markets, LLC, Morgan Stanley & Co. LLC, PNC Capital Markets LLC, Williams Capital Group, LP and Loop Capital Markets LLC
Coupon:	3.65%
Price:	99.874
Yield:	3.665%
Spread:	Treasuries plus 130 bps
Call features:	Make-whole call at Treasuries plus 20 bps before Dec. 15, 2026; thereafter at par
Trade date:	Feb. 27
Settlement date:	March 6
Ratings:	Moody’s: Baa3
	S&P: BBB
Distribution:	SEC registered

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