United Technologies calls $1 billion 5.375%, $1.25 billion 6.125% notes

By Tali Rackner

Norfolk, Va., Nov. 1 – United Technologies Corp. called all $1 billion of its outstanding 5.375% notes due 2017 and all $1.25 billion of its outstanding 6.125% notes due 2019, according to an 8-K filing with the Securities and Exchange Commission.

The notes will be redeemed on Dec. 1 at the greater of (a) par and (b) the sum of the values of the remaining scheduled payments of principal and interest on the notes, discounted to the redemption date, on a semiannual basis, assuming a 360-day year consisting of 12 30-day months, using a reference Treasury rate plus 25 basis points for the 2017 notes and 50 bps for the 2019 notes.

United Technologies is a Hartford, Conn.-based company that provides technology products and services to the building and aerospace industries.

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