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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.

 

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