MILWAUKEE, Feb. 4, 2011 /PRNewswire/ -- Johnson Controls, Inc. (NYSE: JCI) (the "Company"), a global multi-industrial leader in energy efficiency and sustainability, today announced that it has completed its previously announced public offering of $1.6 billion aggregate principal amount of floating and fixed rate senior notes consisting of the following:
-- $350 million of floating rate senior notes that mature in 2014 and bear interest at a rate of three-month LIBOR plus 0.41%,
-- $450 million of fixed rate senior notes that mature in 2014 and bear interest at a rate of 1.75%,
-- $500 million of fixed rate senior notes that mature in 2021 and bear interest at a rate of 4.25%, and
-- $300 million of fixed rate senior notes that mature in 2041 and bear interest at a rate of 5.70%.
The Company received approximately $1.585 billion of net proceeds from the offering after deducting underwriting discounts and commissions and other expenses of the offering. The Company intends to use the net proceeds from the offering to repay short-term indebtedness and for general corporate purposes.
J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Citigroup Global Markets Inc., Goldman, Sachs & Co. and U.S. Bancorp Investments, Inc. are serving as joint book-running managers for the offering.
About Johnson Controls
Johnson Controls is a global diversified technology and industrial leader serving customers in more than 150 countries. Our 142,000 employees create quality products, services and solutions to optimize energy and operational efficiencies of buildings; lead-acid automotive batteries and advanced batteries for hybrid and electric vehicles; and interior systems for automobiles. Our commitment to sustainability dates back to our roots in 1885, with the invention of the first electric room thermostat. Through our growth strategies and by increasing market share we are committed to delivering value to shareholders and making our customers successful.
SOURCE Johnson Controls, Inc.