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Emerson Electric grosses $499.7 million from debt offering

Emerson Electric Co. raised gross proceeds of $499.7 million from an offering of 2.625% senior unsecured notes due Dec. 1, 2021.

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

Barclays Capital Inc., BNP Paribas Securities Corp., Citigroup Global Markets Inc., Deutsche Bank Securities Inc., HSBC Securities (USA) Inc. and J.P. Morgan Securities LLC were the lead underwriters.

Merrill Lynch Pierce Fenner & Smith Inc., MUFG Securities Americas Inc., RBC Capital Markets LLC, SMBC Nikko Securities America Inc., U.S. Bancorp Investments Inc. and Wells Fargo Securities LLC also served as underwriters for the offering.