United Technologies Prices Offering of Senior Notes

FARMINGTON, Conn., Oct. 27, 2016 /PRNewswire/ -- United Technologies Corp. (NYSE: UTX) has successfully priced an offering of $650 million aggregate principal amount of 1.500% notes due 2019, $750 million aggregate principal amount of 1.950% notes due 2021, $1,150 million aggregate principal amount of 2.650% notes due 2026, $1,100 million aggregate principal amount of 3.750% notes due 2046 and $350 million aggregate principal amount of floating rate notes due 2019. 

The offering is expected to close on November 1, 2016, subject to customary closing conditions.  Net proceeds from the offering are expected to be used (i) to fund the redemption price of United Technologies' 5.375% notes due 2017, of which $1,000 million principal amount is outstanding, and the company's 6.125% notes due 2019, of which $1,250 million principal amount is outstanding, (ii) to fund the repayment of commercial paper and (iii) for other general corporate purposes.

The offering is being made under an effective shelf registration statement on file with the Securities and Exchange Commission.  This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of any such jurisdiction. The offering of notes may be made only by means of a prospectus and related prospectus supplement, copies of which may be obtained for free by visiting EDGAR on the SEC website at www.sec.gov or by contacting:

• Merrill Lynch, Pierce, Fenner & Smith Incorporated
  200 North College Street
  NC1-004-03-43
  Charlotte, NC 28255
  Attn: Prospectus Department
  Toll-free: 1-800-294-1322
  E-mail: [email protected][globenewswire.com]
• Goldman, Sachs & Co.
  200 West Street
  New York, NY 10282
  Attn: Prospectus Department
  Tel: 1-866-471-2526
  Facsimile: 1-212-902-9316
  E-mail: [email protected]
• Mizuho Securities USA Inc.
  320 Park Avenue - 11th Floor
  New York, NY 10022
  Attn: Debt Capital Markets
  Tel: 1-866-271-7403
• Morgan Stanley & Co. LLC
  180 Varick Street
  New York, NY 10014
  Attn: Prospectus Department
  Tel: 1-866-718-1649
  E-mail: [email protected]
• Citigroup Global Markets Inc.
  c/o Broadridge Financial Solutions
  1155 Long Island Avenue
  Edgewood, NY 11717
  Tel: 1-800-831-9146
  E-mail: [email protected]

United Technologies Corp., based in Farmington, Connecticut, provides high-technology systems and services to the building and aerospace industries.

This press release contains statements which, to the extent they are not statements of historical or present fact, constitute "forward-looking statements" under the securities laws. From time to time, oral or written forward-looking statements may also be included in other information released to the public. These forward-looking statements are intended to provide management's current expectations or plans for our future operating and financial performance, based on assumptions currently believed to be valid. Forward-looking statements can be identified by the use of words such as "believe," "expect," "expectations," "plans," "strategy," "prospects," "estimate," "project," "target," "anticipate," "will," "should," "see," "guidance," "confident" and other words of similar meaning in connection with a discussion of future operating or financial performance. Forward-looking statements may include, among other things, statements relating to future sales, earnings, cash flow, results of operations, uses of cash, share repurchases and other measures of financial performance or potential future plans, strategies or transactions. All forward-looking statements involve risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. For those statements, we claim the protection of the safe harbor for forward-looking statements contained in the U.S. Private Securities Litigation Reform Act of 1995. Such risks, uncertainties and other factors include, without limitation: (1) the effect of economic conditions in the industries and markets in which we operate in the U.S. and globally and any changes therein, including financial market conditions, fluctuations in commodity prices, interest rates and foreign currency exchange rates, levels of end market demand in construction and in both the commercial and defense segments of the aerospace industry, levels of air travel, financial condition of commercial airlines, the impact of weather conditions and natural disasters and the financial condition of our customers and suppliers; (2) challenges in the development, production, delivery, support, performance and realization of the anticipated benefits of advanced technologies and new products and services; (3) future levels of indebtedness and capital spending and research and development spending; (4) future availability of credit and factors that may affect such availability, including credit market conditions and our capital structure; (5) delays and disruption in delivery of materials and services from suppliers; (6) customer- and Company- directed cost reduction efforts and restructuring costs and savings and other consequences thereof; (7) the scope, nature, impact or timing of acquisition and divestiture activity, including among other things integration of acquired businesses into our existing businesses and realization of synergies and opportunities for growth and innovation; (8) new business opportunities; (9) our ability to realize the intended benefits of organizational changes; (10) the anticipated benefits of diversification and balance of operations across product lines, regions and industries; (11) the timing and scope of future repurchases of our common stock, which may be suspended at any time due to market conditions and the level of other investing activities and uses of cash; (12) the outcome of legal proceedings, investigations and other contingencies; (13) pension plan assumptions and future contributions; (14) the impact of the negotiation of collective bargaining agreements and labor disputes; (15) the effect of changes in political conditions in the U.S. and other countries in which we operate, including, but not limited to the effect of the U.K's pending withdrawal from the EU, on general market conditions and currency exchange rates in the near term and beyond; (16) and the effect of changes in tax, environmental, regulatory (including among other things import/export) and other laws and regulations in the U.S. and other countries in which we operate.  For additional information identifying factors that may cause actual results to vary materially from those stated in forward-looking statements, see our reports on Forms 10-K, 10-Q and 8-K filed with or furnished to the SEC from time to time. Any forward-looking statement speaks only as of the date on which it is made, and we assume no obligation to update or revise such statement, whether as a result of new information, future events or otherwise, except as required by applicable law.

UTC-IR

CONTACT: Kate Ruppar, 860-728-6515

SOURCE United Technologies Corp.

Related Links

http://www.utc.com