Johnson Controls Secures $750M Term Loan

Johnson Controls International plc entered into a $750 million unsecured term loan credit agreement. The loan matures in January 2020 or five business days after the sale of its power solutions business, whichever is earlier, and proceeds are for general business purposes.

“On January 11, 2019, Johnson Controls International plc (the “Company”) entered into a US$750,000,000 Credit Agreement among the Company, the lenders party thereto and U.S. Bank National Association, as administrative agent (the “Credit Agreement”), under which the Company received an unsecured term loan in the principal amount of $750 million that matures on the earlier of (a) January 10, 2020 and (b) the date that is five business days after the consummation of the sale of the Company’s power solutions business.”

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