Carrier Global Corp.'s Proposed Senior Unsecured Notes Rated 'BBB'

BOISE (S&P Global Ratings) Nov. 15, 2023--S&P Global Ratings today assigned its 'BBB' issue-level rating to Carrier Global Corp.'s proposed senior unsecured notes, which includes USD and EUR notes. The company intends to use the proceeds from these notes to help fund its announced €12 billion acquisition of Viessmann, which it expects will close in the first week of 2024, and pay associated transaction fees. Carrier has already entered into a senior unsecured delayed draw term loan facility with 18-month and three-year tranches totaling €2.3 billion. In addition, we expect the company will use about $2.6 billion of cash and $2.6 billion of new equity to fund the acquisition. The proposed issuance does not affect our 'BBB' issuer credit rating

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