Company will offer equity units of shares and debt to fund purchase of aerospace parts manufacturer.
June 12, 2012
by The Canadian Press
HARTFORD, Conn.: United Technologies is attempting to raise $1 billion to help finance its purchase of aerospace parts manufacturer Goodrich Corp.
The industrial conglomerate said in a regulatory filing that it will offer 20 million “equity units” at $50 each. The units will consist of shares and corporate debt due in 2022.
United Technologies, which owns jet engine manufacturer Pratt & Whitney, Otis elevator, Sikorsky Aircraft and other businesses, said it wants to sell the equity units on the New York Stock Exchange.
Other financing for the $16.5 billion purchase of Goodrich, based in Charlotte, NC, includes debt and the sale of several companies such as United Technologies’ rocket and wind power businesses.