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Parker-Hannifin grosses $699.3 million from debt offering

Parker-Hannifin Corp. raised gross proceeds of $699.3 million from an offering of 3.25% senior unsecured notes due March 1, 2027.

The company plans to use the proceeds for acquisitions or investments.

Citigroup Global Markets Ltd. and Morgan Stanley & Co. International PLC were the lead underwriters.

BNY Mellon Capital Markets EMEA Ltd., Commerzbank AG, HSBC Securities (USA) Inc., J.P. Morgan Securities PLC, KeyBanc Capital Markets Inc., Lloyds Bank PLC, Mizuho International PLC, MUFG Securities EMEA PLC, PNC Capital Markets LLC, TD Securities (USA) LLC and Wells Fargo Securities International Ltd. also served as underwriters for the offering.