Illinois Tool Works offers senior unsecured notes (terms incomplete) to repay commercial paper debt

Filed August 11, 2026 · ~2 min read

Key Changes

• high

  This 424B5 pricing prospectus contains blank placeholders for the principal amount, interest rate, and maturity date—final terms are not disclosed in the analyzed sections.

  The Offering verify on EDGAR →
• medium

  Net proceeds will primarily repay commercial paper debt ($2.2B outstanding as of August 6, 2026, at 3.78% weighted average rate, 14-day weighted average maturity); any remainder for general corporate purposes including other debt repayment.

  Use of Proceeds verify on EDGAR →
• medium

  The notes are senior unsecured obligations ranking equally with ITW's other unsecured, unsubordinated debt and structurally subordinated to subsidiary debt. As of June 30, 2026, ITW had $9.7B in third-party debt, substantially all unsecured.

  Risk Factors verify on EDGAR →