CORK, Ireland - Johnson Controls (NYSE:JCI) International plc (NYSE: JCI), a global leader in smart building solutions with a market capitalization of $55.48 billion, has announced the pricing of its €500 million senior notes due in 2033. The proceeds from the offering are earmarked for general corporate purposes, which include repayment and refinancing of the company's existing indebtedness, potential acquisitions, share repurchases, dividends, and investments in subsidiaries. According to InvestingPro data, the company operates with a moderate level of debt, maintaining a debt-to-equity ratio of 0.66.
The closing of the transaction is slated for December 11, 2024, pending customary closing conditions. The offering is being facilitated by joint lead book-running managers BofA Securities, Crédit Agricole CIB, and ING, with several other financial institutions acting as book-running and co-managers.
This financial move is part of a broader strategy by Johnson Controls to maintain a robust balance sheet and invest in areas that enhance the company's market position in the smart building industry. The company's financial health is rated as FAIR by InvestingPro, which has identified 12 key investment tips for JCI, including its impressive YTD return of 45.41% and a 54-year track record of consistent dividend payments. The senior notes are being offered under an effective shelf registration statement, and the related prospectus and prospectus supplement are available from the respective managing banks.
Johnson Controls has a history of nearly 140 years of innovation in building technology and services, with a focus on creating intelligent, healthy, and sustainable environments. Their digital platform, OpenBlue, is designed to integrate the future blueprint of industries ranging from healthcare to manufacturing. As a prominent player in the Building Products industry, the company has demonstrated strong financial performance, generating $22.95 billion in revenue over the last twelve months. Discover detailed insights and comprehensive analysis in the Pro Research Report, available exclusively on InvestingPro.
The company's forward-looking statements, as mentioned in the press release, are subject to various risks and uncertainties that could cause actual results to differ materially from those projected. These include economic conditions, market acceptance of new products and technologies, geopolitical volatility, and other factors that may impact the company's operations and financial performance.
This announcement is based solely on the information provided in the press release statement from Johnson Controls International plc.
In other recent news, Johnson Controls, a global leader in sustainable building solutions, reported a strong fourth-quarter performance for fiscal 2024. The company saw a 7% increase in orders and a significant 22% year-over-year rise in adjusted earnings per share (EPS) to $1.28. Looking ahead, Johnson Controls anticipates continued growth in fiscal 2025, projecting an adjusted EPS of $3.40 to $3.50 and mid-single-digit organic sales growth.
In addition to its robust financial performance, Johnson Controls also announced plans to sell its Residential & Light Commercial segment to Bosch (NS:BOSH) in the fourth quarter of 2024. This move is part of a broader $400 million restructuring plan aimed at achieving $500 million in annual cost savings. The company also reported a record backlog of $13.1 billion, indicating strong future potential.
Recent developments also include the company's expectations for free cash flow conversion to be 85% or higher, with a commitment to return 100% of free cash flow to shareholders. These are the latest in a series of strategic moves by Johnson Controls to enhance its operating model and customer experience through restructuring and efficient resource allocation.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.