ILLINOIS TOOL WORKS INC (ITW) Form 424B5 — Aug 12, 2026
Illinois Tool Works priced a $1.5 billion offering of 4.650% senior unsecured notes due August 13, 2029 at 99.748% of par, expecting approximately $1.489 billion in net proceeds after a 0.250% underwriting discount and roughly $3.1 million of expenses. The proceeds will repay a portion of ITW's commercial paper program, which carried approximately $2.2 billion outstanding at a ~3.77% weighted average rate as of August 11, 2026; total debt stood at $9,694 million against $839 million of cash at June 30, 2026, leaving the pro forma debt total unchanged. Citigroup, J.P.
Key figures
- Total Debt
- 9694000000
- Debt Amount
- 1500000000
- Cash Position
- 839000000
- Interest Rate
- 4.65
- Maturity Date
- August 13, 2029
- Gross Proceeds
- 1492470000
- Offering Price
- 99.748% of principal
- Net Proceeds
- approximately $1.489 billion after underwriting discount and expenses
- Par Call Date
- July 13, 2029; make-whole redemption at Treasury Rate + 10 bps prior
- Denominations
- $2,000 and integral multiples of $1,000
- Settlement Date
- August 13, 2026 (T+2)
- Offering Expenses
- approximately $3.1 million
- Total Capitalization
- 12589000000
- Interest Payment Dates
- Semi-annually February 13 and August 13, beginning February 13, 2027
- Underwriting Discount
- 3750000
- Total Stockholders Equity
- 2895000000
- Public Offering Price Total
- 1496220000
- Commercial Paper Outstanding
- approximately $2.2 billion as of August 11, 2026
- Total Third Party Liabilities
- approximately $13.6 billion (June 30, 2026)
- Total Third Party Indebtedness
- approximately $9.7 billion (June 30, 2026)
- Underwriting Discount Percent
- 0.250%
- Commercial Paper Weighted Avg Rate
- approximately 3.77%
- Commercial Paper Weighted Avg Maturity
- approximately 9 days
Price after filing
Close on the filing date to close N calendar days later (from $292.51). Historical, not a forecast.
AI analysis
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