Caterpillar will raise $4.5 billion through a four-part debt sale, The Wall Street Journal reports. The offering will comprise an 18 month floating rate note part and three, 10 and 30-year fixed rate tranches.
The construction equipment maker intends to use the proceeds to fund the acquisition of Bucyrus International and to pay fees and expenses relating to the merger. Barclays Capital, JP Morgan Chase and Royal Bank of Scotland will be the active book-runners for the deal.
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