Ingersoll-Rand plc (IR) said that it has completed a $1.55 billion debt offering consisting of $350 million aggregate principal amount of 2.875% notes due in 2019, $700 million aggregate principal amount of 4.25% notes due on 2023 and $500 million aggregate principal amount of 5.75% notes due on 2043.
The company said it plans to use the net proceeds from the offering of the Notes to fund the redemption of IR Global's existing $600 million aggregate principal amount of 6.00% Senior Notes due 2013 and $655 million aggregate principal amount of 9.5% Senior Notes due 2014 and to fund expenses related to its previously-announced spin off of its commercial and residential security businesses.
The redemption premium expense for the early retirement of these notes will approximate $46 million and will negatively impact third-quarter and full-year earnings per share by about $0.15 per share, the company noted.
Additionally, the lower interest costs for the new debt and the early refinancing of the 2013 and 2014 notes will reduce the future annualized total interest expense by approximately $30 million.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.