Johnson Controls announces completion of debt offering

Jun 13, 2014, 12:34 ET from Johnson Controls, Inc.

MILWAUKEE, June 13, 2014 /PRNewswire/ -- Johnson Controls, Inc. (NYSE: JCI) (the "Company"), a global multi-industrial company, today announced that it has completed its previously announced public offering of $1.7 billion aggregate principal amount of fixed rate senior notes consisting of the following:

-- $300 million of senior notes that mature in 2017 and bear interest at a rate of 1.400%,

-- $500 million of senior notes that mature in 2024 and bear interest at a rate of 3.625%,

-- $450 million of senior notes that mature in 2044 and bear interest at a rate of 4.625%, and

-- $450 million of senior notes that mature in 2064 and bear interest at a rate of 4.950%.

The Company received approximately $1.68 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 finance the Company's previously announced acquisition of Air Distribution Technologies and for general corporate purposes.

Goldman, Sachs & Co., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Barclays Capital Inc., Citigroup Global Markets Inc. and Wells Fargo Securities, LLC 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 170,000 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. In 2014, Corporate Responsibility Magazine recognized Johnson Controls as the #12 company in its annual "100 Best Corporate Citizens" list.


Fraser Engerman (media)

+1-414.524.2733 (office)

Glen Ponczak (investors)

+1-414.524.2375 (office)

SOURCE Johnson Controls, Inc.