Home / Financial Report / ITT Corp. Looks to Raise $100M in ‘Dutch Auction’ Debt Sale

ITT Corp. Looks to Raise $100M in ‘Dutch Auction’ Debt Sale

ITT Corp. (NYSE: ITT) is seeking to raise $100 million in a “Dutch auction” bond offering of 7.4 percent debt instruments that come due in 2025.

The company said that $87.5 million of principal had been tendered as of 5 p.m. EST on Oct. 3.

ITT has retained J.P. Morgan Securities LLC and RBS Securities Inc. to act as dealer managers for the offer.

Click here to read the details.

 

Check Also

Jim Garrettson, CEO of Executive Mosaic, Presents David Young His Second Consecutive Wash100 Award

Jim Garrettson, founder and CEO of Executive Mosaic, presented David Young, senior vice president of …

GTY Buys Six Tech Firms to Create Public Sector-Focused Software Company

GTY Technology Holdings Inc. (Nasdaq: GTYH), a special purpose acquisition company founded by former Accenture …