Carrier Global offers to buy up to $1.15 billion from two notes

Chicago, March 15 – Carrier Global Corp. is offering to buy up to $1.15 billion principal amount from two securities, according to a press release on Tuesday.

The company is offering to buy up to $800 million of its $2 billion outstanding 2.242% senior notes due 2025 (Cusips: 14448CAN4, 14448CAF1) for a price that will be determined using the 1.75% U.S. Treasury due March 15, 2025 plus 70 basis points.

At the second acceptance priority level, Carrier is offering to buy from its $1.25 billion outstanding 2.493% senior notes due 2027 (Cusips: 14448CAP9, 14448CAH7) for an amount that will be determined using the 1.875% U.S. Treasury due Feb. 28, 2027 plus 95 bps.

The tender considerations will include a $30 early tender payment that will not be paid to noteholders who tender their notes after the early deadline.

Interest will also be paid to the applicable settlement date.

Tenders may be prorated.

The early deadline and the withdrawal deadline are 5 p.m. ET on March 28.

Pricing will take place at 10 a.m. ET on March 29.

The offer expires at 11:59 p.m. ET on April 11.

Early settlement is planned for March 30, and final settlement is anticipated to be April 13.

J.P. Morgan (866 834-4666, 212 834-4045) and Morgan Stanley (800 624-1808, 212 761-1057) are the dealer managers for the tender offers.

D.F. King & Co., Inc. is the information and tender agent for the offer (866 828-6934, 212 269-5550, carr@dfking.com).

Palm Beach Gardens, Fla.-based Carrier Global is a heating and cooling systems provider.

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