Summary
Rockwell Automation, Inc. (ROK) filed an 8-K report on October 14, 2005, disclosing the issuance of $300 million in unsecured commercial paper on October 11, 2005. These short-term obligations have maturities ranging from 1 to 28 days and carry a weighted average interest rate of 3.84% per annum. The primary purpose of this financing was to partially fund a voluntary contribution to the company's U.S. qualified pension plan trust. Rockwell Automation anticipates using future commercial paper issuances to refinance these existing borrowings as they mature.
Key Highlights
- 1Issuance of $300 million in unsecured commercial paper on October 11, 2005.
- 2Maturities for the commercial paper range from 1 to 28 days.
- 3Weighted average interest rate for the issuance was 3.84% per annum.
- 4Proceeds were used to partially fund a voluntary contribution to the company's U.S. qualified pension plan trust.
- 5The commercial paper was issued under an exemption from registration requirements of the Securities Act of 1933.
- 6Rockwell Automation expects to refinance these borrowings with future commercial paper issuances.