ZURICH-Tuesday, May 9th 2017 [ ME NewsWire ]
(BUSINESS WIRE)-- ABB announced that it has priced the EUR 750 million 7- year bond transaction it launched earlier today.
The bonds carry a coupon of 0.75% and will be issued under the ABB Finance B.V. USD 8 billion Debt Issuance Program. The bonds will be guaranteed by ABB Ltd, the parent company of the ABB Group.
The net proceeds of the issue will be used for general corporate purposes.
Issuance will take place on or around May 16, 2017, which is the expected settlement date of the bonds.
ABB (ABBN: SIX Swiss Ex) is a pioneering technology leader in electrification products, robotics and motion, industrial automation and power grids, serving customers in utilities, industry and transport & infrastructure globally. Continuing more than a 125-year history of innovation, ABB today is writing the future of industrial digitalization and driving the Energy and Fourth Industrial Revolutions. ABB operates in more than 100 countries with about 132,000 employees. www.abb.com
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