Illinois Tool Works Inc.’s €1.6 Billion Notes Offering

Davis Polk advised the joint book-running managers in connection with an SEC-registered offering.

Illinois Tool Works Inc. offered €600 million of 0.250% notes due 2024, €500 million of 0.625% notes due 2027 and €500 million of 1.000% notes due 2031.

Citigroup J.P. Morgan, Barclays Commerzbank, HSBC and Société Générale acted as joint book-running managers in the deal.

Illinois Tool Works, located in Glenview, Illinois, is a global manufacturer of a diversified range of industrial products and equipment with operations in 55 countries. Illinois Tool Works’ operations are aggregated into seven external reportable segments: Automotive OEM; Test & Measurement and Electronics; Food Equipment; Polymers & Fluids; Welding; Construction Products; and Specialty Products.

Drinker Biddle & Reath LLP and Winston & Strawn LLP acted as legal advisor to Illinois Tool Works.

Winston & Strawn LLP and Davis Polk advised the underwriters in the deal.

The Davis Polk corporate team included partner Byron B. Rooney (Picture) and associate Joseph S. Payne. Partner Mario J. Verdolini and associate Tomislava Dragicevic provided tax advice.

Involved fees earner: Tomislava Dragicevic – Davis Polk & Wardwell; Joseph Payne – Davis Polk & Wardwell; Byron Rooney – Davis Polk & Wardwell; Mario Verdolini – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Barclays Bank; Citigroup Inc.; Commerzbank AG; Hsbc Bank plc; J.P. Morgan Securities LLC; Société Générale;