MELBOURNE, FLA.: Harris Corp. issued two tranches totaling $700 million this week. The first is for $400 million of 4.4 percent notes due Dec. 15, 2020; the second, for $300 million aggregate principal of its 6.15 percent notes due Dec. 15, 2040. Interest on each series of the notes is payable semi-annually in arrears on June 15 and December 15, commencing June 15, 2011.
The notes will be unsecured, unsubordinated obligations and will rank equally with all of Harris’s other unsecured, unsubordinated indebtedness from time to time outstanding. The notes will be issued only in minimum denominations of $2,000 and integral multiples of $1,000 above that amount. They will not be listed on any exchange, according to Harris’s filing with the Securities and Exchange Commission.
Bank of America, JP Morgan and Morgan Stanley are book-runners for the sale, expected to settle tomorrow.
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