Cummins (CMI) has released an update.
Cummins Inc. successfully completed a public offering of Senior Notes, raising $2.25 billion through the issuance of notes with varying interest rates and maturities set for 2029, 2034, and 2054. These funds are earmarked for general corporate endeavors, potentially including the payoff of existing debts. Investors should note that the company reserves the right to redeem the notes at any time, with the redemption price depending on the proximity to the maturity date. This move could influence the company’s financial strategy and stock performance, offering a new opportunity for those tracking corporate bonds and market activities.
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