Issuer: | Harris Corporation |
Expected Ratings (Moody’s / S&P / Fitch)*: | Baa3/BBB-/BBB- (Stable/Stable/Positive) |
Security Type: | Senior unsecured notes (collectively, the “Notes”) |
Principal Amount: | $250,000,000 |
Trade Date: | November 1, 2017 |
Settlement Date (T+3): | November 6, 2017 |
Maturity: | April 30, 2020 |
Interest Payment Dates: | January 30, April 30, July 30 and October 30 of each year, commencing on January 30, 2018 |
Public Offering Price: | 100%, plus accrued and unpaid interest, if any, from November 6, 2017 |
Base Rate: | LIBOR (Reuters Page LIBOR01 or Bloomberg equivalent) |
Index Maturity: | Three-month |
Spread to LIBOR: | 48 basis points |
Initial Interest Rate: | Three-month LIBOR, determined as of two London banking days prior to the settlement date or the relevant interest reset date, as applicable, plus 0.480% per annum |
Interest Reset Dates: | Quarterly on January 28, April 28, July 28 and October 28 of each year, commencing on January 26, 2018 (the second London banking day preceding January 30, 2018) |
Record Dates: | 15 calendar days prior to each interest payment date |
Optional Redemption: | The Notes will not be redeemable at the option of the issuer prior to maturity |
Minimum Denomination: | $2,000 x $1,000 |
CUSIP / ISIN: | 413875 AU9/US413875U92 |
Day Count Convention: | Actual / 360 |
Calculation Agent: | The Bank of New York Mellon Trust Company, N.A. |
Use of Proceeds: | The net proceeds from the sale of the Notes in this offering, together with cash on hand, will be used to repay in full the approximately $250 million in remaining outstanding indebtedness under the 5-year tranche of the issuer’s senior unsecured term loan facility. |
Sole Book-Runner: | Morgan Stanley & Co. LLC |