Johnson Controls Announces Completion of Debt Offering

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  Published in House and Home on Friday, December 2nd 2011 at 9:33 GMT by Market Wire
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Johnson Controls Announces Completion of Debt Offering

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MILWAUKEE, Dec. 2, 2011 /PRNewswire/ -- Johnson Controls, Inc. (NYSE: [ JCI ]) (the "Company"), a global diversified company in the buildings and automotive industries, today announced that it has completed its previously announced public offering of $1.1 billion aggregate principal amount of fixed rate senior notes consisting of the following:

-- $400 million of senior notes that mature in 2016 and bear interest at a rate of 2.600%,

-- $450 million of senior notes that mature in 2021 and bear interest at a rate of 3.750%, and

-- $250 million of senior notes that mature in 2041 and bear interest at a rate of 5.250%. 

The Company received approximately $1.09 billion of net proceeds from the offering after deducting underwriting discounts and commissions and other expenses of the offering.  The Company intends to use the net proceeds from the offering to repay short-term indebtedness and for general corporate purposes.

Barclays Capital Inc., Citigroup Global Markets Inc., Banca IMI S.p.A., Credit Agricole Securities (USA) Inc. and J.P. Morgan Securities LLC are serving as joint book-running managers for the offering.

About Johnson Controls

Johnson Controls is a global diversified technology and industrial leader serving customers in more than 150 countries. Our 162,000 employees create quality products, services and solutions to optimize energy and operational efficiencies of buildings; lead-acid automotive batteries and advanced batteries for hybrid and electric vehicles; and interior systems for automobiles. Our commitment to sustainability dates back to our roots in 1885, with the invention of the first electric room thermostat. Through our growth strategies and by increasing market share we are committed to delivering value to shareholders and making our customers successful.  In 2011, Corporate Responsibility Magazine recognized Johnson Controls as the #1 company in its annual "100 Best Corporate Citizens" list.

SOURCE Johnson Controls, Inc.

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