<a href="https://laohu8.com/S/OTIS">Otis Worldwide</a> Corporation Announces Issuance of $500 Million in 5.131% Notes for Debt Repayment and Corporate Purposes
Otis Worldwide Corporation has announced a significant financial maneuver involving the issuance of $500 million in 5.131% Notes due 2035. The proceeds from this issuance, estimated to be around $495.2 million after deductions, are earmarked for strategic debt management. The company plans to utilize these funds to repay its 0.370% Notes due March 18, 2026, amounting to approximately $147 million. Additionally, the remaining proceeds will support the repayment of certain commercial paper borrowings and other general corporate purposes. This move underscores Otis Worldwide's commitment to optimizing its financial structure and enhancing its fiscal flexibility. Interest payments on the new notes will commence on March 4, 2026, and occur semi-annually thereafter.
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