ITW Announces Redemption of 1.750% Notes due 2022

Rhea-AI Summary

Illinois Tool Works will redeem its €500,000,000 1.750% Senior Notes due 2022 at a redemption price equal to the outstanding principal plus accrued interest. The redemption date is set for February 22, 2022. This move reflects the company's financial strategy and commitment to managing debt effectively. With revenues of $12.6 billion in 2020, ITW operates in a decentralized manner across seven segments, focused on innovative solutions and customer satisfaction.

Positive

• Redemption of €500,000,000 Senior Notes suggests proactive debt management.
• Company reported revenues of $12.6 billion in 2020, indicating strong financial health.

Negative

• None.

GLENVIEW, Ill., Jan. 17, 2022 (GLOBE NEWSWIRE) -- Illinois Tool Works Inc. (NYSE: ITW) (the “Company”) announced today that it will redeem all of the €500,000,000 in aggregate principal amount of the Company’s 1.750% Senior Notes due 2022 (the “Notes”) issued pursuant to that certain Indenture dated as of November 1, 1986, as supplemented by the First Supplemental Indenture dated as of May 1, 1990, between the Company and The Bank of New York Mellon Trust Company, N.A., as successor trustee, at a redemption price equal to the outstanding principal amount, plus accrued and unpaid interest on the principal amount. The redemption date for the Notes will be February 22, 2022.

About Illinois Tool Works
ITW (NYSE: ITW) is a Fortune 200 global multi-industrial manufacturing leader with revenues totaling $12.6 billion in 2020. The company’s seven industry-leading segments leverage the unique ITW Business Model to drive solid growth with best-in-class margins and returns in markets where highly innovative, customer-focused solutions are required. ITW’s approximately 43,000 dedicated colleagues around the world thrive in the company’s decentralized and entrepreneurial culture. www.itw.com

Media Contact	Investor Relations
Illinois Tool Works	Illinois Tool Works
Tel: 224.661.7451	Karen Fletcher
mediarelations@itw.com	Tel: 224.661.7433
	investorrelations@itw.com

FAQ

What is the redemption amount for ITW's Senior Notes?

Illinois Tool Works is redeeming €500,000,000 in aggregate principal amount of its 1.750% Senior Notes.

When is the redemption date for ITW's Senior Notes?

The redemption date for the Senior Notes is February 22, 2022.

What were ITW's revenues in 2020?

Illinois Tool Works reported revenues of $12.6 billion in 2020.

What financial strategy is ITW implementing with the redemption of the Senior Notes?

The redemption reflects ITW's commitment to proactive debt management.