8-KMaterial AgreementsOther EventsExhibits & Filings

Johnson Controls International plc 8-K Report, Material Agreement (Feb 25, 2015)

Filed February 25, 2015For Securities:JCI

Summary

This 8-K filing from Tyco International plc (which later became part of Johnson Controls International plc) on February 25, 2015, primarily announces the completion of a €500 million notes offering by its subsidiary, Tyco International Finance S.A. (TIFSA). The notes carry a coupon of 1.375% and mature in 2025, with TIFSA as the issuer and Tyco International plc along with Tyco Fire & Security Finance S.C.A. providing full and unconditional guarantees. Investors should note the specific terms of the notes, including their senior unsecured status and the redemption provisions. The proceeds from this offering are earmarked for general corporate purposes, which could include strategic initiatives such as acquisitions, debt repayment, or share repurchases. This offering indicates the company's strategy to manage its capital structure and fund its operational and strategic objectives.

Key Highlights

  • 1Completion of a €500 million notes offering by Tyco International Finance S.A.
  • 2The notes bear a fixed interest rate of 1.375% and mature in 2025.
  • 3Tyco International plc and Tyco Fire & Security Finance S.C.A. provide full and unconditional guarantees for the notes.
  • 4The notes are senior unsecured obligations of TIFSA, ranking equally with existing and future senior debt.
  • 5Proceeds are intended for general corporate purposes, including potential acquisitions, debt repayment, and share repurchases.
  • 6The offering was underwritten by a syndicate of major financial institutions.
  • 7The notes are redeemable at TIFSA's option, with specific provisions for early redemption and redemption upon a change of control.

Frequently Asked Questions

This 8-K filing was primarily to report on the completion of Tyco International Finance S.A.'s offering of €500 million aggregate principal amount of 1.375% Notes due 2025.

The notes have a principal amount of €500 million, a fixed interest rate of 1.375% per year, and mature in 2025. They are senior unsecured obligations of Tyco International Finance S.A., fully and unconditionally guaranteed on a senior unsecured basis by Tyco International plc and Tyco Fire & Security Finance S.C.A.

The proceeds from the issuance of the notes are intended for general corporate purposes. This may include, but is not limited to, acquisitions, repayment of debt, capital expenditures, investments in subsidiaries, repurchases of ordinary shares, and funding of legacy liabilities.

Prior to November 25, 2024, the notes are redeemable at the issuer's option at a 'make-whole' amount. On or after November 25, 2024, they are redeemable at 100% of the principal amount. Additionally, the notes may be redeemed in the event of certain tax changes, and holders have the right to require repurchase (at 101% of principal) upon a change of control triggering event.