Otis Worldwide Corp

NYSE:OTIS   3:59:57 PM EDT
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Debt Financing / Related

Otis Announces Tender Offer For Remaining 49.99% Interest In Zardoya Otis

Published: 09/23/2021 10:31 GMT
Otis Worldwide Corp (OTIS) - Otis Announces Cash Tender Offer for Remaining 49.99% Interest in Zardoya Otis.
Otis Worldwide Corp - Transaction Expected to Be Financed With Euro-denominated Debt.
Otis Worldwide - Expects Up to Mid-single Digit Percentage Accretion to Adjusted Run-rate EPS and Up to $80m Increase in Cash Available for Deployment.
Otis Worldwide - Tender Offer Through Its Unit for All of Shares It Does Not Currently Own of Zardoya Otis, Sa for an Offer Price of EUR 7.00 in Cash.
Otis Worldwide Corp - There Should Be No Significant Change to Company's Employment As a Result of This Transaction.
Otis Worldwide Corp - Plans to Repay $800 Million of Existing Debt and Suspend Share Repurchases in 2022.