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: dg.prospectus_requests@baml.com[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: prospectus-ny@ny.email.gs.com
- 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: prospectus@morganstanley.com
- Citigroup Global Markets Inc.
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
Tel: 1-800-831-9146
E-mail: prospectus@citi.com
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
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/united-technologies-prices-offering-of-senior-notes-300353142.html
SOURCE United Technologies Corp.