Otis in its public offerings of senior unsecured notes due 2027 and senior unsecured notes due 2031

Otis Worldwide Corp (NYSE: OTIS) announced that it has priced a registered public offering of $600 million of U.S. dollar-denominated 5.125% senior unsecured notes due 2031 (the “Dollar Notes”) and its subsidiary, Highland Holdings S.à r.l., has priced a registered public offering of €850 million euro-denominated 2.875% senior unsecured notes due 2027 (the “Euro Notes”), on November 12, 2024 and November 13, 2024, respectively, for a total offering of approximately $1.5 billion.  The Euro Notes will be guaranteed by Otis.  Otis expects to use the net proceeds from the offerings primarily to fund the repayment at maturity of their 2.056% notes due April 5, 2025, with any excess to fund the repayment of commercial paper borrowings and for other general corporate purposes. 

Wachtell, Lipton, Rosen & Katz is serving as legal advisor to Otis.