GLENVIEW, Ill. – Illinois Tool Works Inc. (ITW) has commenced an offer to exchange unregistered notes for notes that have been registered under the Securities Act of 1933.
The offer includes the exchange of up to $350 million of its registered 3.375 percent notes due 2021 and up to $650 million of its registered 4.875 percent notes due 2041 for any and all of its outstanding unregistered 3.375 percent notes due 2021 and 4.875 percent notes due 2041. The exchange offer will expire at 5 p.m. EDT time on June 27, unless extended or terminated. Tenders of old notes may be withdrawn at any time on or prior to the expiration date.
ITW says the “new notes” are substantially identical to the “old notes,” except that the new notes have been registered under the Securities Act of 1933, as amended, and will not bear any legend restricting their transfer.