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3M grosses $844.8 million from debt offering

3M Co. raised gross proceeds of $844.8 million from an offering of 2.875% senior unsecured notes due Oct. 15, 2027.

The company plans to use the proceeds for general corporate purposes or working capital, redemption or repayment of debt securities, and acquisitions or investments.

Barclays Capital Inc., J.P. Morgan Securities LLC, Merrill Lynch Pierce Fenner & Smith Inc., Morgan Stanley & Co. LLC and Wells Fargo Securities LLC were the lead underwriters.

Academy Securities Inc., CL King & Associates Inc., Samuel A. Ramirez & Co. Inc. and Williams Capital Group LP also served as underwriters for the offering.