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.