Fortive Corp’s Strategic Financial Maneuver with €1.2B Notes Offering

Fortive Corp (FTV) has released an update.

Fortive Corporation successfully completed an offering of €1.2 billion in notes, with €500 million due in 2026 and €700 million due in 2029, all with a 3.700% interest rate. The funds are earmarked for refinancing existing debts, including those from a significant acquisition, and for other corporate needs. These notes are unsecured and come with covenants limiting certain company actions like incurring secured debt. Additionally, in the event of a change of control, the company must offer to repurchase the notes at 101% of their principal plus interest. The offering was made under a previously filed SEC registration, and involved an underwriting agreement with major financial institutions.

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