Our firm assisted Otis Worldwide Corporation, via its indirect wholly owned subsidiary Highland Holdings S.à r.l., a private limited-liability company incorporated under the laws of the Grand Duchy of Luxembourg, with the closing of an offering consisting of EUR 850 million in 2.875% notes maturing in 2027.
The offering closed on 19 November 2024. Each series of notes is fully and unconditionally guaranteed by Otis, on an unsecured and unsubordinated basis. The proceeds, expected to be around EUR 842 million, will contribute to the repayment of a portion of the 2025 notes, with any remaining funds addressing commercial paper borrowings and general corporate needs.
Otis Worldwide Corporation, based in Farmington, Connecticut, is the world's leading elevator and escalator manufacturing, installation and service company.
“It was a pleasure working with Otis alongside Wachtell, Lipton, Rosen & Katz on this important cross-border debt capital markets deal. Many thanks to everyone involved for the successful collaboration.”
Our team further consisted of Josée Weydert, Jean-Marc Groelly, Brice Bertolotti, Catarina Pinho, and Ilhami Karamemis.