CORK,
Ireland, April 16, 2024 /PRNewswire/ -- Johnson
Controls (NYSE: JCI) (the "Company" or "Johnson
Controls"), the global leader for smart, healthy and sustainable
buildings, today announced the pricing of its offering of
$700 million senior notes due 2029.
The net proceeds will be used for general corporate purposes,
including the repayment, redemption or refinancing of outstanding
commercial paper and other near-term indebtedness. General
corporate purposes may also include acquisitions, additions to
working capital, repurchase of ordinary shares, dividends, capital
expenditures and investments in JCI's subsidiaries.
Tyco Fire & Security Finance,
S.C.A., a subsidiary of the Company, is a co-issuer of the notes.
The closing for the transaction is expected to occur on
April 19, 2024, subject to certain
customary closing conditions.
Citigroup, J.P. Morgan, Morgan Stanley, TD Securities, BofA
Securities, Barclays, Credit Agricole CIB, ING and US Bancorp are
serving as joint book-running managers to facilitate the
transaction. ANZ Securities, BBVA, Danske Markets, Deutsche Bank
Securities, ICBC Standard, Siebert Williams
Shank, Standard Chartered Bank and UniCredit Capital Markets
are serving as co-managers of the offering.
The offering of the notes is being made pursuant to an effective
shelf registration statement, prospectus and related prospectus
supplement. Copies of the prospectus supplement and the base
prospectus may be obtained by contacting Citigroup Global Markets
Inc. toll-free at (800) 831-9146; J.P. Morgan Securities LLC
collect at (212) 834-4533; Morgan Stanley & Co. LLC toll-free
at (866) 718-1649; or TD Securities (USA) LLC toll-free at (855) 495-9846.
Investors may also obtain these documents for free by visiting
EDGAR on the Securities and Exchange Commission's website at
www.sec.gov. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy, nor shall there be any
sale of these securities in any state or other jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or other jurisdiction.
About Johnson Controls:
At Johnson Controls (NYSE: JCI), we transform the environments
where people live, work, learn and play. As a global leader in
smart, healthy and sustainable buildings, our mission is to
reimagine the performance of buildings to serve people, places and
the planet.
Building on a proud history of nearly 140 years of innovation,
we deliver the blueprint of the future for industries such as
healthcare, schools, data centers, airports, stadiums,
manufacturing and beyond through OpenBlue, our comprehensive
digital offering.
Today, with a global team of 100,000 experts in more than 150
countries, Johnson Controls offers the world's largest portfolio of
building technology and software as well as service solutions from
some of the most trusted names in the industry.
Johnson Controls International plc Cautionary Statement
Regarding Forward-Looking Statements
The Company has made statements in this
communication that are forward-looking and therefore are
subject to risks and uncertainties. Forward-looking statements may
be identified by the use of words such as "may," "will," "expect,"
"intend," "estimate," "anticipate," "believe," "should,"
"forecast," "project" or "plan" and terms of similar meaning in
connection with a discussion of future operating or financial
performance. However, the absence of these words does not mean that
a statement is not forward-looking. The Company cautions that these
statements are subject to numerous important risks, uncertainties,
assumptions and other factors, some of which are beyond the
Company's control, that could cause the Company's actual results to
differ materially from those expressed or implied by such forward-
looking statements, including, among others, risks related to: the
Company's ability to develop or acquire new products and
technologies that achieve market acceptance and meet applicable
quality and regulatory requirements; the ability to manage general
economic, business and capital market conditions, including the
impact of recessions, economic downturns and global price
inflation; fluctuations in the cost and availability of public and
private financing for the Company's customers; the ability to
innovate and adapt to emerging technologies, ideas and trends in
the marketplace, including the incorporation of technologies such
as artificial intelligence; the ability to manage macroeconomic and
geopolitical volatility, including shortages impacting the
availability of raw materials and component products and the
conflicts between Russia and
Ukraine and Israel and Hamas; managing the risks and
impacts of potential and actual security breaches, cyberattacks,
privacy breaches or data breaches, including business, service, or
operational disruptions, the unauthorized access to or disclosure
of data, financial loss, reputational damage, increased response
and remediation costs, legal, and regulatory proceedings or other
unfavorable outcomes; the Company's ability to remediate its
material weakness; maintaining and improving the capacity,
reliability and security of the Company's enterprise information
technology infrastructure; the ability to manage the lifecycle
cybersecurity risk in the development, deployment and operation of
the Company's digital platforms and services; changes to laws or
policies governing foreign trade, including economic sanctions,
tariffs, foreign exchange and capital controls, import/export
controls or other trade restrictions; fluctuations in currency
exchange rates; changes or uncertainty in laws, regulations, rates,
policies, or interpretations that impact the Company's business
operations or tax status; the ability to adapt to global climate
change, climate change regulation and successfully meet the
Company's public sustainability commitments; the outcome of
litigation and governmental proceedings; the risk of infringement
or expiration of intellectual property rights; the Company's
ability to manage disruptions caused by catastrophic or
geopolitical events, such as natural disasters, armed conflict,
political change, climate change, pandemics and outbreaks of
contagious diseases and other adverse public health developments;
the ability of the Company to drive organizational improvement; any
delay or inability of the Company to realize the expected benefits
and synergies of recent portfolio transactions; the ability to hire
and retain senior management and other key personnel; the tax
treatment of recent portfolio transactions; significant transaction
costs and/or unknown liabilities associated with such transactions;
labor shortages, work stoppages, union negotiations, labor disputes
and other matters associated with the labor force; and the
cancellation of or changes to commercial arrangements. Investors
are therefore cautioned not to place undue reliance on any forward
looking statements. For further discussion of certain of these
factors, see Item 1A. Risk Factors in the Company's Annual Report
on Form 10-K for the fiscal year ended September 30, 2023, filed with the U.S.
Securities and Exchange Commission (the "SEC") on December 14, 2023 and in our subsequent and
future filings with the SEC, which are available
at www.sec.gov. Investors should understand that it is not
possible to predict or identify all such factors and should not
consider this list to be a complete statement of all potential
risks and uncertainties. The forward-looking statements included in
this communication are made only as of the date of the document in
which they are included, unless otherwise specified, and, except as
required by law, the Company assumes no obligation, and disclaims
any obligation, to update forward-looking statements to reflect
events or circumstances occurring after the date of such
document.
INVESTOR
CONTACTS:
|
MEDIA
CONTACT:
|
|
|
Jim Lucas
|
Danielle
Canzanella
|
Direct:
651.391.3182
|
Direct:
203.499.8297
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Email:
jim.lucas@jci.com
|
Email:
danielle.canzanella@jci.com
|
|
|
Michael
Gates
|
|
Direct:
414.524.5785
|
|
Email:
michael.j.gates@jci.com
|
|
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SOURCE Johnson Controls International plc