Otis Worldwide Files 8-K on Debt Instruments

TL;DR

Otis dropped an 8-K detailing its 2026 and 2031 notes.

AI Summary

Otis Worldwide Corporation filed an 8-K on November 19, 2024, reporting on other events and financial statements. The filing includes details related to its "Zero318NotesDue2026Member" and "Zero934NotesDue2031Member" debt instruments.

Why It Matters

This filing provides transparency into Otis's financing activities and debt structure, which can impact its financial health and investor confidence.

Risk Assessment

Risk Level: low — The filing is a routine disclosure of debt-related information and does not indicate any immediate financial distress or significant operational changes.

Key Players & Entities

• Otis Worldwide Corporation (company) — Registrant
• November 19, 2024 (date) — Date of earliest event reported
• Delaware (jurisdiction) — State of incorporation
• 001-39221 (filing_id) — Commission File Number
• 83-3789412 (tax_id) — I.R.S. Employer Identification No.
• One Carrier Place Farmington, Connecticut 06032 (address) — Address of principal executive offices
• 860-674-3000 (phone_number) — Registrant's telephone number
• otis:Zero318NotesDue2026Member (debt_instrument) — Related debt instrument
• otis:Zero934NotesDue2031Member (debt_instrument) — Related debt instrument

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common Stock ($0.01 par value) OTIS New York Stock Exch
• $600 million — de Corporation (the " Company ") issued $600 million aggregate principal amount of its 5.125
• $594.5 million — nses, are estimated to be approximately $594.5 million. The Otis Notes will bear interest at
• $2,000 — were issued in minimum denominations of $2,000 and any integral multiple of $1,000 in
• $1,000 — of $2,000 and any integral multiple of $1,000 in excess thereof. The Otis Indenture
• $902 m — ted to be approximately 842 million, or $902 million, based on the euro/U.S. dollar ra
• $1.3 billion — .056% notes due April 5, 2025, of which $1.3 billion principal amount is currently outstandi

Filing Documents

• ny20038264x8_8k.htm (8-K) — 61KB
• ny20038264x8_ex4-2.htm (EX-4.2) — 117KB
• ny20038264x8_ex4-5.htm (EX-4.5) — 149KB
• ny20038264x8_ex5-1.htm (EX-5.1) — 22KB
• ny20038264x8_ex5-2.htm (EX-5.2) — 21KB
• ny20038264x8_ex5-3.htm (EX-5.3) — 57KB
• ny20038264x8_8kimg001.jpg (GRAPHIC) — 4KB
• ny20038264x8_ex5-1img01.jpg (GRAPHIC) — 4KB
• ny20038264x8_ex5-2img01.jpg (GRAPHIC) — 4KB
• ny20038264x8_ex5-3img01.jpg (GRAPHIC) — 4KB
• 0001140361-24-047294.txt ( ) — 725KB
• otis-20241119.xsd (EX-101.SCH) — 4KB
• otis-20241119_def.xml (EX-101.DEF) — 17KB
• otis-20241119_lab.xml (EX-101.LAB) — 26KB
• otis-20241119_pre.xml (EX-101.PRE) — 20KB
• ny20038264x8_8k_htm.xml (XML) — 7KB

01

Item 8.01. Other Events. Dollar Offering On November 19, 2024, Otis Worldwide Corporation (the " Company ") issued $600 million aggregate principal amount of its 5.125% Notes due 2031 (the " Otis Notes "). The Otis Notes were registered under the Securities Act of 1933, as amended (the " Act "), pursuant to the Company's Registration Statement on Form S-3ASR (File No. 333-270834) (the " Registration Statement ") filed on March 24, 2023. On November 14, 2024, the Company filed with the SEC a Prospectus Supplement dated November 12, 2024 (the " Otis Prospectus Supplement ") containing the final terms of the Otis Notes pursuant to Rule 424(b)(2) of the Act. In connection with the offer and sale of the Otis Notes, the Company entered into an Underwriting Agreement, dated November 12, 2024 (the " Otis Underwriting Agreement "), with HSBC Securities (USA), Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and SMBC Nikko Securities America, Inc., as representatives of the underwriters named in Schedule A thereto. A copy of the Otis Underwriting Agreement has been filed as exhibit 1.1 to the Form 8-K filed on November 14, 2024.The Otis Notes were issued under the Indenture, dated as of February 27, 2020 (the " Otis Base Indenture "), as supplemented by the Supplemental Indenture No. 4, dated as of November 19, 2024 (the " Otis Supplemental Indenture " and, the Otis Base Indenture as supplemented by the Otis Supplemental Indenture, the " Otis Indenture "), in each case between the Company and The Bank of New York Mellon Trust Company, N.A., as trustee. The Otis Base Indenture and the Otis Supplemental Indenture have been filed as exhibits 4.1 and 4.2 to this Current Report and are incorporated herein by reference. The form of the Otis Notes has been filed as exhibit 4.3 to this Current Report on Form 8-K and is incorporated herein by reference. The net proceeds to the Company from the sale of the Otis Notes, after the underwriting discount and offering expense

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Exhibit Description 4.1 Indenture, dated as of February 27, 2020, among Otis Worldwide Corporation and The Bank of New York Mellon Trust Company, N.A., as trustee, incorporated by reference to Exhibit 4.1 to the Company's Amendment No. 1 to Registration Statement on Form 10 (Commission file number 001-39221) filed with the SEC on March 11, 2020. 4.2 Supplemental Indenture No. 4, dated as of November 19, 2024, between Otis Worldwide Corporation and The Bank of New York Mellon Trust Company, N.A., as trustee. 4.3 Form of 5.125% Otis Note due 2031 (included in Exhibit 4.2 hereto). 4.4 Indenture, dated as of November 12, 2021, among Otis Worldwide Corporation, Highland Holdings S. r.l. and The Bank of New York Mellon Trust Company, N.A., as trustee, incorporated by reference to Exhibit 4.1 to the Company's Current Report on Form 8-K (Commission file number 001-39221) filed with the SEC on November 12, 2021. 4.5 Supplemental Indenture No. 2, dated as of November 19, 2024, among Otis Worldwide Corporation, Highland Holdings S. r.l. and The Bank of New York Mellon Trust Company, N.A., as trustee. 4.6 Form of 2.875% Highland Note due 2027 (included in Exhibit 4.5 hereto). 5.1 Opinion of Wachtell, Lipton, Rosen & Katz, dated November 19, 2024 with respect to the Otis Notes. 5.2 Opinion of Wachtell, Lipton, Rosen & Katz, dated November 19, 2024 with respect to the Highland Notes. 5.3 Opinion of NautaDutilh Avocats Luxembourg S. r.l., dated November 19, 2024, with respect to the Highland Notes. 5.4 Consent of Wachtell, Lipton, Rosen & Katz, dated November 19, 2024 (included in Exhibit 5.1 hereto), with respect to the Otis Notes. 5.5 Consent of Wachtell, Lipton, Rosen & Katz, dated November 19, 2024 (included in Exhibit 5.2 hereto), with respect to the Highland Notes. 5.6 Consent of NautaDutilh Avocats Luxembourg S. r.l., dated November 19, 2024 (included in Exhibit 5.3), wi

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. OTIS WORLDWIDE CORPORATION (Registrant) Date: November 19, 2024 By: /s/ Cristina Mndez Cristina Mndez Executive Vice President & Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR