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Textron Inc . (NYSE:TXT), a leading aircraft and defense manufacturer with a market capitalization of $13.5 billion, has successfully issued $500 million in debt, with the sale of 5.500% Notes due May 15, 2035. The issuance took place on Thursday, based on the company’s SEC filing. According to InvestingPro analysis, Textron operates with a moderate level of debt and maintains strong liquidity, with liquid assets exceeding short-term obligations.
The notes were sold pursuant to Textron’s existing Registration Statement on Form S-3, alongside the related Prospectus dated February 22, 2023, and the Prospectus Supplement dated February 10, 2025. These documents have been incorporated by reference in the Registration Statement.
The underwriting agreement for the offer and sale of the notes was dated February 10, 2025. BofA Securities, Inc., Citigroup (NYSE:C) Global Markets Inc., and MUFG Securities Americas Inc. managed the transaction.
In addition to the underwriting agreement, the filing included a form of the Global Note, an Officers’ Certificate establishing the notes, and an opinion by Bracewell LLP regarding the legality of the notes. The legal consent from Bracewell LLP was also included in the filing.
Textron, headquartered in Providence, Rhode Island, operates under a Delaware incorporation with a fiscal year ending on December 28. Formerly known as American Textron Inc., the company changed its name on May 10, 1971.
The SEC filing confirms that the notes have been registered for trading on the New York Stock Exchange under the symbol TXT. This move by Textron Inc. represents a strategic effort to raise capital through debt financing.
Investors and market watchers alike will note that this issuance comes as part of Textron’s broader financial strategy, as detailed in their SEC filings. The information contained in this article is based on a press release statement.
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