Johnson Controls announces public offering

Special to The Freeman

June 11, 2014

MILWAUKEE Johnson Controls Inc. is pricing a public offering of $1.7 billion in aggregate fixed rate senior notes, according to a company statement.

The proceeds will be used to help finance the acquisition of Richardson, Texas-based Air Distribution Technologies, a company that makes air distribution and ventilation products.

According to the statement, the book-running managers for the offering are Goldman, Sachs & Co., Merrill Lynch, Pierce Fenner & Smith Inc., Barclays Capital Inc., Citigroup Global Markets Inc. and Wells Fargo Securities LLC.

Milwaukee-based Johnson Controls, which provides building management technology and automotive interiors and batteries, said in April that it reached a deal with the Canada Pension Plan Investment Board to purchase Air Distribution Technologies for $1.6 billion.

www.johnsoncontrols.com