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Global M&A by the Numbers Q4 2023

Ingersoll-Rand to raise $1.5B debt to fund Precision Flow Systems buy

Ingersoll-Rand PLC is offering $1.50 billion in senior notes via indirect subsidiary Ingersoll-Rand Luxembourg Finance SA to fund its proposed acquisition of Precision Flow Systems.

The offering consists of $400 million in 3.50% notes due 2026, $750 million in 3.80% notes due 2029, and $350 million in 4.50% notes due 2049. Aside from funding the acquisition, Ingersoll-Rand also intends to use proceeds from the notes for general corporate purposes.

The notes will be guaranteed by wholly owned units Ingersoll-Rand Global Holding Co. Ltd., Ingersoll-Rand Lux International Holding Co. Sàrl, Ingersoll-Rand Irish Holdings Unlimited Co. and Ingersoll-Rand Co. The offering is expected to close March 21, subject to customary closing conditions.

Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Merrill Lynch Pierce Fenner & Smith Inc. are acting as representatives of the underwriters.