Ingersoll-Rand to issue about $3.8 billion in debt after Trane acquisition

By Andrea Heisinger

Omaha, Dec. 18 - Ingersoll-Rand Co. will issue about $3.8 billion in incremental debt after its acquisition of Trane, Inc., the company said in a presentation Monday.

The debt will be evenly split between short- and long-term debt. The long-term issuance will be of varying maturities.

The weighted average interest rate will be from 5% to 6%, the company said.

The total value of the acquisition transaction is about $10.1 billion.

Ingersoll-Rand, which has U.S. offices in Montvale, N.J., is a diversified company and the world's largest manufacturer of truck refrigeration units, while Piscataway, N.J.-based Trane manufactures air conditioning and heating units.

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