Parker-Hannifin to price benchmark medium-term notes in three parts

By Aleesia Forni

Virginia Beach, Nov. 18 – Parker-Hannifin Corp. is in the market with a benchmark three-tranche offering of medium-term notes, series A, according to an informed source and a 424B3 filed with the Securities and Exchange Commission.

The sale is expected to include tranches of notes due 2024, 2034 and 2044.

Morgan Stanley & Co. LLC, Wells Fargo Securities LLC and Mizuho Securities (USA) Inc. are the bookrunners.

Proceeds will be used to repay borrowings under the company’s commercial paper program and for other general corporate purposes.

Parker-Hannifin is a Cleveland-based manufacturer of motion and control technologies.

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