Otis Worldwide issued $500 million aggregate principal amount of its 5.131% Notes due 2035 on September 4, 2025, the company said. The net proceeds from the offering, after the underwriting discount and offering expenses, are estimated to be approximately $495.2 million.

1. 01

   Otis Worldwide issued $500 million aggregate principal amount of its 5.131% Notes due 2035 on September 4, 2025, the company said. The net proceeds from the offering, after the underwriting discount and offering expenses, are estimated to be approximately $495.2 million.

2. 02

   The company intends to use the net proceeds to fund the repayment at maturity of its 0.370% Notes due March 18, 2026 (the 2026 Yen Notes), of which ¥21.5 billion principal amount is currently outstanding (approximately $147 million as of June 30, 2025). It intends to use the remainder of the proceeds to fund the repayment of certain of its commercial paper borrowings and for other general corporate purposes.

3. 03

   The company said the notes bear interest at the rate of 5.131% per annum and mature on September 4, 2035, with interest payable on March 4 and September 4 of each year, beginning on March 4, 2026. It said that prior to June 4, 2035, the company may redeem the notes at a redemption price equal to the principal amount plus a make-whole premium and accrued and unpaid interest, and that on or after that date, the company may redeem the notes at a redemption price equal to 100% of the principal amount plus accrued and unpaid interest.

4. 04

   Upon the occurrence of a Change of Control Triggering Event, each holder of the notes will have the right to require the company to purchase all or a portion of such holder's notes at a purchase price equal to 101% of the principal amount plus accrued and unpaid interest, the company said. The notes are unsecured, unsubordinated obligations of the company and rank equally in right of payment with all of the company's existing and future unsecured, unsubordinated indebtedness. The notes were issued in minimum denominations of $2,000 and any integral multiple of $1,000 in excess thereof.

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