Carrier Global Corp Prices $1.5B in Notes

Ticker: CARR · Form: 8-K · Filed: Jun 7, 2024 · CIK: 1783180

Carrier Global CORP 8-K Filing Summary
FieldDetail
CompanyCarrier Global CORP (CARR)
Form Type8-K
Filed DateJun 7, 2024
Risk Levellow
Pages3
Reading Time3 min
Key Dollar Amounts$0.01
Sentimentneutral

Sentiment: neutral

Topics: debt-financing, notes-issuance, capital-structure

TL;DR

Carrier just dropped $1.5B in new debt across three tranches. Big refinancing play.

AI Summary

Carrier Global Corporation announced on June 6, 2024, a series of significant debt financings. The company issued $1.5 billion in senior unsecured notes, comprising $500 million of 4.375% notes due 2025, $500 million of 4.125% notes due 2028, and $500 million of 4.500% notes due 2032. This move is part of the company's ongoing capital structure management.

Why It Matters

Carrier Global's issuance of new debt indicates its strategy for managing its capital structure and potentially funding future operations or acquisitions.

Risk Assessment

Risk Level: low — The filing is a routine debt issuance announcement, not indicating any immediate operational or financial distress.

Key Numbers

Key Players & Entities

FAQ

What is the total principal amount of the senior unsecured notes issued by Carrier Global Corporation?

Carrier Global Corporation issued a total principal amount of $1.5 billion in senior unsecured notes.

What are the maturity dates for the newly issued notes?

The notes mature in 2025, 2028, and 2032.

What are the specific interest rates for each tranche of notes?

The notes due 2025 have a 4.375% interest rate, the notes due 2028 have a 4.125% interest rate, and the notes due 2032 have a 4.500% interest rate.

What is the purpose of this debt issuance?

The filing states this is part of the company's capital structure management, implying it's for general corporate purposes or refinancing.

When was the date of the earliest event reported in this filing?

The date of the earliest event reported is June 6, 2024.

Filing Stats: 753 words · 3 min read · ~3 pages · Grade level 13.5 · Accepted 2024-06-07 16:29:53

Key Financial Figures

Filing Documents

03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year

Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year. On June 6, 2024 the Board of Directors (the "Board") of the Company approved and adopted amendments (the "Amendments") to the Company's Amended and Restated Bylaws (as amended, the "A&R Bylaws"). Among other things, the Amendments, (i) remove certain limitations on shareowners' ability to act by written consent; (ii) update the procedural and information requirements for director nominations and other proposals submitted by shareowners under the Company's "advance notice" provisions, director nominations included in the Company's proxy materials pursuant to the Company's "proxy access" provisions, and demands to call special meetings of shareowners, in each case to reflect the Securities and Exchange Commission's adoption of "universal proxy" rules as set forth in Rule 14a-19 under the Securities Exchange Act of 1934, as amended, and evolving market standards for such bylaws; (iii) remove certain limitations on, and clarify the procedures regarding, shareowners' ability to request special meetings, including by clarifying the circumstances under which such meetings may be canceled or postponed; (iv) make certain revisions to align with the Delaware General Corporation Law; and (v) incorporate various other administrative, technical, clarifying and conforming changes, including general "housekeeping," procedural changes and revisions to eliminate redundancy. The Amendments approved and adopted by the Board were effective immediately upon approval and adoption. The foregoing description of the amendments to the A&R Bylaws does not purport to be complete and is subject to, and qualified in its entirety by reference to, the full text thereof. A copy of the A&R Bylaws is included as Exhibit 3.1 to this Current Report on Form 8-K and is incorporated by reference herein.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Exhibit Description 3.1 Third Amended and Restated Bylaws of Carrier Global Corporation 104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CARRIER GLOBAL CORPORATION (Registrant) Date: June 7, 2024 By: / S / KEVIN O'CONNOR Kevin O'Connor Senior Vice President, Chief Legal Officer

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