Otis issues $700M in notes at 4.488% to refinance maturing euro debt at 0.318%

Filed May 7, 2026 · Period ending May 4, 2026 · ~1 min read

Key Changes

• high

  Issued $700M of 4.488% senior notes due 2029, a significant rate increase from the 0.318% euro notes being refinanced, reflecting higher interest rate environment and adding ~$29M in annual interest expense.

  Item 1.01 view on EDGAR →
• high

  Proceeds will refinance €600M (~$695M) of notes maturing December 2026 and repay commercial paper, extending debt maturity profile by approximately 2.5 years to May 2029.

  Item 8.01 verify on EDGAR →
• medium

  Notes include change-of-control protection allowing holders to put bonds back to Otis at 101% of par if acquisition occurs, providing downside protection.

  Item 1.01 view on EDGAR →