MILWAUKEE, Feb. 2, 2011 /PRNewswire/ -- Johnson Controls, Inc. (NYSE: JCI) (the "Company"), a global multi-industrial leader in energy efficiency and sustainability, today announced that it priced a 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 expects that it will receive approximately $1.585 billion of net proceeds from the offering after deducting underwriting discounts and commissions and expenses of the offering. The Company intends to use the net proceeds from the offering to repay short-term indebtedness and 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.
The offering is being made under the Company's shelf registration statement filed with the Securities and Exchange Commission and only by means of a prospectus supplement and accompanying prospectus. A copy of the prospectus supplement and accompanying prospectus relating to the offering may be obtained from either J.P. Morgan Securities LLC, 383 Madison Avenue, New York, New York 10179, Attention: Investment Grade Syndicate Desk or by calling collect at 1-212-834-4533 or Merrill Lynch, Pierce, Fenner & Smith Incorporated, 100 West 33rd Street New York, NY 10001, Attention: Prospectus Department or by calling toll-free at 1-800-294-1322.
This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor will there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
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.