Stanley Black & Decker to sell $400M in junior debt, $300M in convertible


Stanley Black & Decker (SWK) will offer $400M in fixed-to-floating junior subordinated debt due 2053.

The company will also sell 3M equity units, initially consisting of $300M in junior subordinated notes due 2018 containing contracts to purchase total common stock of $300M. Exchange is expected in Nov. 2016 and is subject to early settlement in certain circumstances.

SWK will use proceeds for general corporate purposes, including repayment of short-term borrowings.

From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs