MILWAUKEE (AP) — Johnson Controls Inc., which makes electronics for controlling the systems in buildings and vehicles, said Friday that it completed a $1.1 billion public offering of fixed-rate senior notes for net proceeds of about $1.09 billion.
The notes include $400 million of senior notes that mature in 2016 and bear interest at a rate of 2.6 percent, $450 million of senior notes that mature in 2021 and bear interest at a rate of 3.75 percent and $250 million of senior notes that mature in 2041 and bear interest at a rate of 5.25 percent.
The Milwaukee-based company said it plans to use the proceeds from the offering to pay back short-term debt and for general corporate purposes.
Barclays Capital Inc., Citigroup Global Markets Inc., Banca IMI SpA., Credit Agricole Securities (USA) Inc. and J.P. Morgan Securities LLC are the offering's joint underwriters.
In afternoon trading, Johnson Controls shares rose 80 cents, or 2.6 percent, to $31.90.