Plumbing and heating products distributor Ferguson PLC is offering $750 million in 4.5% senior unsecured notes due 2028.

Ferguson said proceeds from the debut bond offering, which is expected to close Oct. 24, will be used for general corporate purposes and to boost liquidity. Ferguson Group CFO Mike Powell said the bond will help diversify the group's debt structure.

The notes will be issued by a wholly owned Ferguson subsidiary, and guaranteed by Ferguson and another wholly owned subsidiary.