Carrier Completes $3.0 Billion and €2.35 Billion Notes Offerings
11.30.23
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Simpson Thacher represented the initial purchasers in connection with the offerings by Carrier Global Corporation (NYSE: CARR) (“Carrier”) of $3.0 billion aggregate principal amount of USD-denominated notes and €2.35 billion aggregate principal amount of EUR-denominated notes pursuant to Rule 144A and Regulation S.
Carrier intends to use the net proceeds from the offerings, together with cash on hand and borrowings under the existing term loan credit facilities and bridge facility, to fund the cash portion of the consideration for Carrier’s acquisition of the climate solutions business of Viessmann Group GmbH & Co. KG and to pay fees and expenses incurred in the acquisition.
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, Catherine Ciriello and Ellen Gao (Capital Markets); Michael Mann (Tax); Courtney Welshimer and Kate Mirino (IP); Pasco Struhs (ECEB); and Jennie Getsin (Blue Sky).