Parker-Hannifin said on February 20, 2025 that it completed its previously announced registered offering of €700 million in 2.900% Senior Notes due 2030. The notes were issued under an indenture dated September 5, 2023 and registered on Form S-3.

1. 01

   Parker-Hannifin said on February 20, 2025 that it completed its previously announced registered offering of €700 million in 2.900% Senior Notes due 2030. The notes were issued under an indenture dated September 5, 2023 and registered on Form S-3.

2. 02

   The company said the notes bear interest at 2.900% per year, payable annually on March 1 with the first payment on March 1, 2026, and that interest will be paid 1 time per year.

3. 03

   The company said it plans to use the net proceeds from the notes, together with cash on hand, to repay its 1.125% Senior Notes due 2025 at maturity. It said that until then it may hold the net proceeds in interest-bearing accounts, invest them in short-term securities, or use them to repay short-term debt.

4. 04

   The company said it may redeem the notes before February 1, 2030 at the redemption prices described in the prospectus supplement, and afterward at 100% of principal plus accrued and unpaid interest. It also said that if certain change of control events occur, it will be required to offer to buy the notes at 101% of principal plus accrued and unpaid interest.

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Original filing

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