Rockwell Automation Prices $1.5 Billion of Notes Offering

Rhea-AI Summary

Rockwell Automation (NYSE: ROK) announced the pricing of $1.5 billion in notes on August 3, 2021, as part of a public offering. The issuance includes three series: $600 million maturing in 2023 at 0.350% interest, $450 million maturing in 2031 at 1.750%, and $450 million maturing in 2061 at 2.800%. The offering is expected to close on August 17, 2021, subject to customary conditions. The net proceeds will partially fund the acquisition of Plex Systems. Major underwriters include BofA Securities and Goldman Sachs.

Positive

• Successful pricing of $1.5 billion notes indicates strong market interest.
• Funds will help finance the strategic acquisition of Plex Systems, enhancing business growth.

Negative

• Debt issuance may increase leverage, impacting financial flexibility.

Rockwell Automation, Inc. (NYSE: ROK) today announced that on August 3, 2021, it priced notes in an aggregate principal amount of $1.5 billion, in an underwritten, registered public offering.

One series, consisting of $600 million of notes, will mature on August 15, 2023 and will bear interest at an annual rate of 0.350 percent. A second series, consisting of $450 million of notes, will mature on August 15, 2031 and will bear interest at an annual rate of 1.750 percent. A third series, consisting of $450 million of notes, will mature on August 15, 2061 and will bear interest at an annual rate of 2.800 percent. The offering is expected to close on August 17, 2021, subject to customary closing conditions.

Rockwell Automation intends to use the net proceeds it receives from this offering to partially fund the purchase price in its anticipated acquisition of Plex Systems.

BofA Securities, Inc., Goldman Sachs & Co. LLC, Loop Capital Markets LLC, and Wells Fargo Securities, LLC acted as joint book-running managers for the offering.

BMO Capital Markets Corp., PNC Capital Markets LLC, LLC, Citigroup Global Markets Inc., BNY Mellon Capital Markets, Deutsche Bank Securities Inc., U.S. Bancorp Investments, Inc. and TD Securities (USA) LLC, acted as senior co-managers. Comerica Securities, Inc. and ING Financial Markets LLC acted as co-managers.

Copies of the prospectus supplement and the accompanying prospectus relating to the offering can be obtained from:

BofA Securities, Inc.
200 North College Street, 3rd Floor, NC1-004-03-43
Charlotte, North Carolina 28255-0001
Attn: Prospectus Department
Telephone: +1-800-294-1322
Email: dg.prospectus_requests@bofa.com

Goldman Sachs & Co. LLC
Prospectus Department
200 West Street
New York, NY 10282
Telephone +1-866-471-2526
Email: prospectus-ny@ny.email.gs.com

Loop Capital Markets LLC
111 W. Jackson Blvd. #1901
Chicago, IL 60604
Telephone: +1-312-913-4900
Email: prospectus@loopcapital.com

Wells Fargo Securities, LLC
608 2nd Avenue South, Suite 1000
Minneapolis, MN 55402
Attn: WFS Customer Service
Telephone: +1-800-645-3751
Email: wfscustomerservice@wellsfargo.com

Rockwell Automation, Inc. (NYSE: ROK), is a global leader in industrial automation and digital transformation. We connect the imaginations of people with the potential of technology to expand what is humanly possible, making the world more productive and more sustainable. Headquartered in Milwaukee, Wisconsin, Rockwell Automation employs approximately 24,000 problem solvers dedicated to our customers in more than 100 countries.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210804005371/en/

FAQ

What is the amount of notes priced by Rockwell Automation on August 3, 2021?

Rockwell Automation priced notes totaling $1.5 billion.

When is the expected closing date for Rockwell Automation's notes offering?

The expected closing date is August 17, 2021.

What will Rockwell Automation use the proceeds from the notes for?

The proceeds will partially fund the acquisition of Plex Systems.

What are the maturity dates and interest rates for the notes issued by ROK?

The notes mature on August 15 in 2023 (0.350%), 2031 (1.750%), and 2061 (2.800%).

Who are the joint book-running managers for Rockwell Automation's notes offering?

BofA Securities, Goldman Sachs, Loop Capital Markets, and Wells Fargo Securities are the joint book-running managers.