ITT Holdings to price $1.22 billion eight-year senior notes; early guidance low 6% area

By Abigail W. Adams

Portland, Me., June 21 – ITT Holdings LLC plans to price $1.22 billion of eight-year senior notes during the June 21 week. Early guidance has the notes coming with a yield in the low 6% area, according to a market source.

The notes are non-callable for three years.

Jefferies LLC, Wells Fargo Securities LLC, CIBC World Markets Corp., First Horizon Bank, MUFG and Regions Securities LLC are joint bookrunners for the Rule 144A and Regulation S offering.

Proceeds will be used to refinance existing debt and fund a distribution.

ITT Holdings is a White Plains, N.Y.-based manufacturer of component parts for the aerospace, transportation, energy and industrial markets.

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