ABB to Issue USD 958 Million of Bonds (Switzerland)
ABB, the leading power and automation technology group, announced a CHF 850 million bond transaction consisting of two tranches:
CHF 500 million 1.25% Notes due 2016
CHF 350 million 2.25% Notes due 2021
The net proceeds of the issue will be used for general corporate purposes which may include the refinancing or repayment of debt.
The Notes will be issued by ABB Ltd, which is incorporated in Switzerland and is the ultimate holding company of the ABB Group.
The Notes will be issued on or around October 11, 2011 – the expected settlement date of the Notes.
ABB is a leader in power and automation technologies that enable utility and industry customers to improve performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries and employs about 130,000 people.
Source: abb, September 21, 2011