Shearman And Sterling

News September 15, 2017

Shearman & Sterling Advises Underwriters on Eaton Corporation’s $1 Billion Notes Offering

Shearman & Sterling represented Citigroup Global Markets, Goldman Sachs & Co, J.P. Morgan Securities, and Merrill Lynch, Pierce, Fenner & Smith as joint book-running managers and Deutsche Bank Securities, Morgan Stanley & Co., Barclays Capital, BNP Paribas Securities, Credit Suisse Securities, HSBC Securities, KeyBanc Capital Markets, Wells Fargo Securities, BNY Mellon Capital Markets, PNC Capital Markets and Loop Capital Markets as co-managers in connection with Eaton Corporation’s $700 million and $300 million notes offerings. The $700 million notes offering pays interest at a rate of 3.103% per annum due September 15, 2027, and the $300 million notes offering pays interest at a rate of 3.915% per annum due September 15, 2047.

Eaton Corporation is a subsidiary of Eaton Corporation plc (NYSE: ETN), a power management company with 2016 sales of $19.7 billion. Eaton provides energy-efficient solutions that help customers effectively manage electrical, hydraulic and mechanical power more efficiently, safely and sustainably. The company has approximately 95,000 employees and sells products to customers in more than 175 countries.

The Team