Fortive Corp (FTV) has released an update.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Fortive Corporation successfully completed an offering of €1.2 billion in notes, with €500 million due in 2026 and €700 million due in 2029, all with a 3.700% interest rate. The funds are earmarked for refinancing existing debts, including those from a significant acquisition, and for other corporate needs. These notes are unsecured and come with covenants limiting certain company actions like incurring secured debt. Additionally, in the event of a change of control, the company must offer to repurchase the notes at 101% of their principal plus interest. The offering was made under a previously filed SEC registration, and involved an underwriting agreement with major financial institutions.
For further insights into FTV stock, check out TipRanks’ Stock Analysis page.