Otis in its $750 million notes offering

On August 16, 2023, Otis Worldwide Corporation (“Otis”) issued $750,000,000 aggregate principal amount of notes under the Securities Act of 1933, as amended. Otis expects to use the net proceeds from the issuance of the notes to fund the repayment at maturity of the 0.000% notes due November 12, 2023 issued by its subsidiary, Highland Holdings S.à r.l., and guaranteed by Otis, of which €500,000,000 (approximately $546 million as of June 30, 2023) principal amount is currently outstanding. Otis intends to use the remainder of the proceeds to fund the repayment of certain of Otis’ commercial paper borrowings and for other general corporate purposes.

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