Johnson Controls Announces $1.5B Debt Tender Offer

Johnson Controls commenced cash tender offers to purchase up to $1.5 billion in aggregate principal amount of certain senior notes. The company will fund the purchase with a portion of the proceeds from the sale of its Power Solutions business.

“On May 1, 2019, the Company issued a press release announcing the commencement of cash tender offers (each, a “Debt Tender Offer,” and collectively, the “Debt Tender Offers”) to purchase up to $1.5 billion in aggregate principal amount (as such amount may be increased by the Company pursuant to the terms of the Debt Tender Offers, the “Aggregate Maximum Purchase Amount”) of certain of its senior notes (the “Notes”).”

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