ITT Sheds Debt Related to Upcoming Spinoff with Completed Tender Offer

ITT Corp. (NYSE: ITT) has announced the results of the modified “Dutch Auction” cash tender offer it held to shed off debt associated with its upcoming spin off of Xylem Inc. and Exelis Inc.

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The offer was for up to $100 million of the aggregate principal amount of 7.40 percent debt due 2025.

The company said $87.557 million of principal was accepted.

To view the full results, click here.

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