Trane Technologies Prices $700 Million Senior Notes Offering
February 20 2023 - 6:30AM
Business Wire
Trane Technologies plc (NYSE: TT) (the “Company”), a global
climate innovator, today announced the pricing of an aggregate $700
million principal amount of 5.250% senior notes due 2033, which
will be issued by its indirect, wholly-owned subsidiary, Trane
Technologies Financing Limited. The net proceeds from the offering
are expected to be used to fund the redemption of the $700 million
aggregate principal amount of the outstanding 4.250% Senior Notes
due 2023 issued by Trane Technologies HoldCo Inc., which are
scheduled to mature on June 15, 2023.
The notes will be guaranteed by the Company, Trane Technologies
Global Holding Company Limited, Trane Technologies Lux
International Holding Company S.à r.l., Trane Technologies Irish
Holdings Unlimited Company, Trane Technologies Company LLC and
Trane Technologies Holdco Inc., each of which is a wholly-owned
subsidiary of the Company. The offering is expected to close on
March 3, 2023, subject to the satisfaction of customary closing
conditions.
BofA Securities, Inc., Goldman Sachs & Co. LLC and J.P.
Morgan Securities LLC are acting as representatives of the
underwriters.
The Company has filed an effective registration statement
(including a prospectus supplement and accompanying base
prospectus) with the Securities and Exchange Commission (“SEC”) for
the offering to which this communication relates. Before you
invest, you should read the effective registration statement
(including the prospectus supplement and accompanying base
prospectus) for more complete information about the Company and
this offering. You may obtain these documents for free by visiting
EDGAR on the SEC website at www.sec.gov. Alternatively, copies may
be obtained from BofA Securities, Inc., NC1-004-03-43, 200 North
College Street, 3rd floor Charlotte, NC 28255-0001, Attn:
Prospectus Department, Email: dg.prospectus_requests@bofa.com; or
from Goldman Sachs & Co. LLC, Attention: Prospectus Department,
200 West Street, New York, New York 10282, telephone:
1-866-471-2526, facsimile: 212-902-9316 or by emailing
prospectus-ny@ny.email.gs.com; or from J.P. Morgan Securities LLC,
c/o Broadridge Financial Solutions, Attn: Prospectus Department,
1155 Long Island Avenue, Edgewood, NY 11717, or by telephone:
1-866-803-9204.
These securities are only offered by means of the prospectus
supplement and accompanying base prospectus related to the
offering. This news release shall not constitute an offer to sell,
or the solicitation of an offer to buy, any securities, nor shall
there be any sales of securities mentioned in this news release in
any jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction.
About Trane Technologies
Trane Technologies is a global climate innovator. Through our
strategic brands Trane® and Thermo King®, and our environmentally
responsible portfolio of products and services, we bring efficient
and sustainable climate solutions to buildings, homes, and
transportation. Learn more at tranetechologies.com.
This news release includes or is based on “forward looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995, Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. Such
forward-looking statements include, without limitation, statements
regarding the Company’s offering of the notes and its intended use
of the proceeds. These forward-looking statements are based on our
current expectations and are subject to risks and uncertainties,
which may cause actual results to differ materially from our
current expectations. For more discussion relating to the risks and
uncertainties that could cause actual results to differ from those
anticipated in the Company’s forward-looking statements, please
refer to the Company’s Form 10 K for the year ended December 31,
2022 under the captions “Risk Factors” and “Management’s Discussion
and Analysis of Financial Condition and Results of Operations,” as
well as the Company’s other SEC filings. New risks and
uncertainties arise from time to time, and it is impossible for the
Company to predict these events or how they may affect the Company.
The Company assumes no obligation to update these forward looking
statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20230220005034/en/
Media Contact: Shelby Hansen +1-704-990-3835
Shelby.Hansen@tranetechnologies.com
Investors Contact: Zachary Nagle +1-704-990-3913
InvestorRelations@tranetechnologies.com
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