Johnson Controls prices $500 Million senior notes offering

Feb 02, 2017

CORK, Ireland, Feb. 2, 2017 /PRNewswire/ -- Johnson Controls International plc (NYSE: JCI) (the "Company"), a global multi-industrial company, today announced that it priced a public offering of $500 million principal amount of fixed rate senior notes that mature in 2047 and bear interest at a rate of 4.500% per annum.  The Company expects that it will receive approximately $490 million of net proceeds from the offering after deducting underwriting discounts and commissions and estimated expenses of the offering. The Company intends to use the net proceeds from the offering to repay outstanding commercial paper borrowings and for other general corporate purposes.  The sale of the notes is expected to close on or about Feb. 7, 2017, subject to customary closing conditions.

Citigroup Global Markets Inc. and J.P. Morgan Securities LLC are serving as joint book-running managers for the offering.

The offering is being made under the Company's effective 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 Citigroup Global Markets Inc., Attention: Prospectus Department, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-800-831-9146 (toll-free), or by emailing prospectus@citi.com; or J.P. Morgan Securities LLC, Attention: Investment Grade Syndicate Desk, 383 Madison Avenue, New York, NY 10179, telephone: 1-212-834-4533 (collect).

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.

Nothing in this press release constitutes an offer to the public within the meaning of European Union Directive 2003/71/EC of the European Parliament and of the Council (as amended) (the "Prospectus Directive"). The offering is not being made pursuant to a prospectus approved for the purposes of Prospectus Directive and no offering is being made which would require the publication of such a prospectus.

About Johnson Controls

Johnson Controls is a global diversified technology and multi industrial leader serving a wide range of customers in more than 150 countries. Our 130,000 employees create intelligent buildings, efficient energy solutions, integrated infrastructure and next generation transportation systems that work seamlessly together to deliver on the promise of smart cities and communities. Our commitment to sustainability dates back to our roots in 1885, with the invention of the first electric room thermostat. We are committed to helping our customers win and creating greater value for all of our stakeholders through strategic focus on our buildings and energy growth platforms.

Johnson Controls International plc Cautionary Statement Regarding Forward-Looking Statements

Johnson Controls International plc has made statements in this communication that are forward-looking and therefore are subject to risks and uncertainties. All statements in this document other than statements of historical fact are, or could be, "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe," "should," "forecast," "project" or "plan" and terms of similar meaning are also generally intended to identify forward-looking statements. However, the absence of these words does not mean that a statement is not forward-looking. Johnson Controls cautions that these statements are subject to numerous important risks, uncertainties, assumptions and other factors, some of which are beyond Johnson Controls' control, that could cause Johnson Controls' actual results to differ materially from those expressed or implied by such forward-looking statements. Detailed discussions of risks related to Johnson Controls' business and the offering are included in the section entitled "Risk Factors" in Johnson Controls International plc's Annual Report on Form 10-K for the 2016 fiscal year filed with the SEC on November 23, 2016 and in the section entitled "Risk Factors" in the prospectus supplement, respectively, each of which is available at www.sec.gov.  Potential investors and others should consider these factors in evaluating the forward-looking statements and should not place undue reliance on such statements. The forward-looking statements included in this communication are made only as of the date of this document, unless otherwise specified, and, except as required by law, Johnson Controls assumes no obligation, and disclaims any obligation, to update such statements to reflect events or circumstances occurring after the date of this communication.

CONTACT:

Investors:


Antonella Franzen


(609) 720-4665




Ryan Edelman


(609) 720-4545




Media:


Fraser Engerman


(414) 524-2733

 

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SOURCE Johnson Controls

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