Carrier Global Corp Issues New Notes

Ticker: CARR · Form: 8-K · Filed: 2024-12-20T00:00:00.000Z

Sentiment: neutral

Topics: debt-issuance, financing, notes

TL;DR

Carrier Global just issued new debt: 4.125% notes due 2028 and 4.500% notes due 2032.

AI Summary

On December 20, 2024, Carrier Global Corporation entered into a material definitive agreement related to the issuance of notes. Specifically, the company entered into an indenture for its 4.125% notes due 2028 and its 4.500% notes due 2032.

Why It Matters

This filing indicates Carrier Global Corp is raising capital through debt issuance, which could impact its financial leverage and future investment capacity.

Risk Assessment

Risk Level: medium — Issuing new debt increases financial obligations and leverage, which can be a medium-term risk depending on market conditions and the company's ability to service the debt.

Key Numbers

Key Players & Entities

FAQ

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

The filing does not specify the total principal amount of the 4.125% notes due 2028 or the 4.500% notes due 2032.

What is the purpose of issuing these new notes?

The filing does not explicitly state the purpose for the issuance of these notes.

Are there any specific covenants or restrictions associated with these new notes?

The filing mentions an indenture for the notes, which would contain covenants, but the specific details of these covenants are not provided in this 8-K.

Who is the trustee for these note issuances?

The filing does not name the trustee for the 4.125% notes due 2028 or the 4.500% notes due 2032.

What is the effective date of the indenture for these notes?

The indenture for the 4.125% notes due 2028 and the 4.500% notes due 2032 became effective on December 20, 2024.

From the Filing

0001783180-24-000093.txt : 20241220 0001783180-24-000093.hdr.sgml : 20241220 20241220162408 ACCESSION NUMBER: 0001783180-24-000093 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 15 CONFORMED PERIOD OF REPORT: 20241220 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Termination of a Material Definitive Agreement ITEM INFORMATION: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20241220 DATE AS OF CHANGE: 20241220 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CARRIER GLOBAL Corp CENTRAL INDEX KEY: 0001783180 STANDARD INDUSTRIAL CLASSIFICATION: AIR COND & WARM AIR HEATING EQUIP & COMM & INDL REFRIG EQUIP [3585] ORGANIZATION NAME: 06 Technology IRS NUMBER: 834051582 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-39220 FILM NUMBER: 241568295 BUSINESS ADDRESS: STREET 1: 13995 PASTEUR BOULEVARD CITY: PALM BEACH GARDENS STATE: FL ZIP: 33418 BUSINESS PHONE: 5613652000 MAIL ADDRESS: STREET 1: 13995 PASTEUR BOULEVARD CITY: PALM BEACH GARDENS STATE: FL ZIP: 33418 FORMER COMPANY: FORMER CONFORMED NAME: Carrier Global Corp DATE OF NAME CHANGE: 20190722 8-K 1 carr-20241220.htm 8-K carr-20241220 FALSE 0001783180 0001783180 2024-12-20 2024-12-20 0001783180 us-gaap:CommonStockMember 2024-12-20 2024-12-20 0001783180 carr:A4.125NotesDue2028Member 2024-12-20 2024-12-20 0001783180 carr:A4.500NotesDue2032Member 2024-12-20 2024-12-20 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): December 20, 2024 CARRIER GLOBAL CORPORATION (Exact name of registrant as specified in its charter) Delaware 001-39220 83-4051582 (State or other jurisdiction of incorporation) (Commission File Number) (I.R.S. Employer Identification No.) 13995 Pasteur Boulevard Palm Beach Gardens Florida 33418 (Address of principal executive offices, including zip code) (561) 365-2000 (Registrant’s telephone number, including area code) N/A (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 the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock ($0.01 par value) CARR New York Stock Exchange 4.125% Notes due 2028 CARR28 New York Stock Exchange 4.500% Notes due 2032 CARR32 New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨ Item 1.01    Entry into a Material Definitive Agreement. On December 20, 2024, Carrier Global Corporation (the “Company”) refinanced and replaced the Prior Credit Agreements (as defined below) by entering into a 5-year senior unsecured revolving cred

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