Johnson Controls Issues $1B in Senior Notes
Ticker: JCI · Form: 8-K · Filed: 2024-07-26T00:00:00.000Z
Sentiment: neutral
Topics: debt-issuance, financing, sustainability-linked-bonds
Related Tickers: JCI
TL;DR
JCI just dropped a $1B debt offering, adding to its existing note issuances.
AI Summary
On July 23, 2024, Johnson Controls International plc entered into a material definitive agreement related to its issuance of sustainability-linked notes. The company is issuing $1.000 billion in senior notes due 2032, alongside other note series with varying interest rates and maturity dates, including sustainability-linked notes due 2031.
Why It Matters
This filing indicates Johnson Controls is raising significant capital through debt issuance, which could impact its financial leverage and future investment capacity.
Risk Assessment
Risk Level: medium — Issuing new debt increases financial leverage and interest expenses, which can pose risks if the company's performance falters.
Key Numbers
- $1.000B — Senior Notes Issuance (Amount raised in the new debt offering due 2032.)
Key Players & Entities
- Johnson Controls International plc (company) — Issuer of the notes
- 1.000 billion (dollar_amount) — Principal amount of senior notes due 2032
- 2032 (date) — Maturity year for senior notes
- 2031 (date) — Maturity year for sustainability-linked notes
FAQ
What is the total principal amount of all notes issued or referenced in this filing?
The filing references multiple note series, including $1.000 billion in senior notes due 2032 and sustainability-linked notes due 2031, among others with varying amounts and maturities.
What is the interest rate on the new senior notes due 2032?
The filing does not specify the interest rate for the $1.000 billion senior notes due 2032, only the principal amount and maturity date.
What are the specific terms of the sustainability-linked notes due 2031?
The filing mentions 'SustainabilityLinkedNotes2000Due2031Member' but does not provide specific interest rates or sustainability performance targets.
When was the material definitive agreement entered into?
The material definitive agreement was entered into on July 23, 2024.
What is the purpose of issuing these new notes?
The filing does not explicitly state the purpose of issuing these notes, but it is a material definitive agreement indicating capital raising activities.
From the Filing
0001193125-24-186281.txt : 20240726 0001193125-24-186281.hdr.sgml : 20240726 20240726163632 ACCESSION NUMBER: 0001193125-24-186281 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 15 CONFORMED PERIOD OF REPORT: 20240723 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240726 DATE AS OF CHANGE: 20240726 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Johnson Controls International plc CENTRAL INDEX KEY: 0000833444 STANDARD INDUSTRIAL CLASSIFICATION: AIR COND & WARM AIR HEATING EQUIP & COMM & INDL REFRIG EQUIP [3585] ORGANIZATION NAME: 06 Technology IRS NUMBER: 000000000 STATE OF INCORPORATION: L2 FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-13836 FILM NUMBER: 241147586 BUSINESS ADDRESS: STREET 1: ONE ALBERT QUAY STREET 2: ALBERT QUAY CITY: CORK STATE: L2 ZIP: 00000 BUSINESS PHONE: 414-524-1200 MAIL ADDRESS: STREET 1: 5757 N. GREEN BAY AVENUE STREET 2: P.O. BOX 591 CITY: MILWAUKEE STATE: WI ZIP: 53201 FORMER COMPANY: FORMER CONFORMED NAME: TYCO INTERNATIONAL plc DATE OF NAME CHANGE: 20141117 FORMER COMPANY: FORMER CONFORMED NAME: TYCO INTERNATIONAL LTD DATE OF NAME CHANGE: 20100408 FORMER COMPANY: FORMER CONFORMED NAME: TYCO INTERNATIONAL LTD /BER/ DATE OF NAME CHANGE: 19970715 8-K 1 d835802d8k.htm 8-K 8-K false 0000833444 0000833444 2024-07-23 2024-07-23 0000833444 jci:OrdinarySharesParValue0.01Member 2024-07-23 2024-07-23 0000833444 jci:Notes1.375PercentDue2025Member 2024-07-23 2024-07-23 0000833444 jci:Notes3.900PercentDue2026Member 2024-07-23 2024-07-23 0000833444 jci:Notes0375PercentDue2027Member 2024-07-23 2024-07-23 0000833444 jci:Notes3000PercentDue2028Member 2024-07-23 2024-07-23 0000833444 jci:Notes5.500PercentDue2029Member 2024-07-23 2024-07-23 0000833444 jci:Notes1750PercentDue2030Member 2024-07-23 2024-07-23 0000833444 jci:SustainabilityLinkedNotes2000Due2031Member 2024-07-23 2024-07-23 0000833444 jci:M1.000SeniorNotesDue20322Member 2024-07-23 2024-07-23 0000833444 jci:M4.900SeniorNotesDue20321Member 2024-07-23 2024-07-23 0000833444 jci:Notes4250PercentDue2035Member 2024-07-23 2024-07-23 0000833444 jci:Notes6.000PercentDue2036Member 2024-07-23 2024-07-23 0000833444 jci:M5.70SeniorNotesDue20414Member 2024-07-23 2024-07-23 0000833444 jci:M5.250SeniorNotesDue20413Member 2024-07-23 2024-07-23 0000833444 jci:Notes4.625Percentdue2044Member 2024-07-23 2024-07-23 0000833444 jci:Notes5.125PercentDue2045Member 2024-07-23 2024-07-23 0000833444 jci:Debentures6.950PercentDueDecember12045Member 2024-07-23 2024-07-23 0000833444 jci:Notes4.500PercentDue2047Member 2024-07-23 2024-07-23 0000833444 jci:Notes4.950PercentDue2064Member 2024-07-23 2024-07-23     UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549     FORM 8-K     CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of Earliest Event Reported): July 23, 2024     JOHNSON CONTROLS INTERNATIONAL PLC (Exact name of registrant as specified in its charter)       Ireland   001-13836   98-0390500 (State or Other Jurisdiction of incorporation)   (Commission File Number)   (I.R.S. Employer Identification Number) One Albert Quay . Cork , Ireland , T12 X8N6 (Address of principal executive offices and postal code) (353) 21-423-5000 (Registrant’s telephone number) Not Applicable (Former Name or Former Address, if Changed Since Last Report)     Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:   ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)   ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)   ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under t