EMERSON ELECTRIC CO 8-K Report, Corporate Update (May 22, 2019)

Summary

Emerson Electric Co. (EMR) announced the completion of its public offering of €500 million in 0.375% Notes due 2024 on May 22, 2019. The net proceeds, expected to be approximately €498.2 million (or about $560.0 million), are primarily intended for the repayment of commercial paper borrowings and general corporate purposes. These senior unsecured notes rank equally with existing and future unsecured and unsubordinated debt of the company. The offering was conducted under the company's effective shelf registration statement and was detailed in a prospectus supplement filed on May 15, 2019. This 8-K filing serves to add certain exhibits related to the issuance of these notes and associated agreements.

Key Highlights

• 1Completion of a €500 million public offering of 0.375% Notes due 2024.
• 2Estimated net proceeds of approximately €498.2 million ( ~$560.0 million) from the offering.
• 3Net proceeds to be primarily used for repaying commercial paper borrowings and general corporate purposes.
• 4The Notes are senior unsecured obligations, ranking pari passu with other unsecured and unsubordinated debt.
• 5The issuance was made under an existing Form S-3 registration statement.
• 6Key agreements related to the notes, including the indenture and agency agreement, are filed as exhibits.
• 7The offering involved Wells Fargo Securities International Limited as an underwriter, which is an affiliate of the trustee.

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