Simpson Thacher represented the underwriters in connection with the SEC-registered offering by Carrier Global Corporation (“Carrier”) of $750 million aggregate principal amount of 5.000% Notes due 2029 and $750 million aggregate principal amount of 5.350% Notes due 2033.
Carrier intends to use the net proceeds from the offering to refinance certain existing indebtedness, including to repay at maturity its 2.493% Notes due 2027, with any remaining net proceeds to be used for general corporate and working capital purposes, which may include repayment of borrowings under its commercial paper program.
Carrier is a global leader in intelligent climate and energy solutions with a focus on providing differentiated and digitally enabled lifecycle solutions.
The Simpson Thacher team included John C. Ericson, Adriana Estor-Restrepo, Louise Choi, Andres Cruz and Stephanie Shim (Capital Markets); Michael Mann and Elizabeth Trask (Tax); Paige Brinton (IP); Pasco Struhs (ECEB); and Andrew Pagliughi (Blue Sky).