RTX Taps Bond Market to Repay Loan Backing $10 Billion Share Buyback
- The defense contractor priced the new debt offering on Monday
- RTX announced a $10 billion share-buyback program in October
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RTX Corp. tapped the US investment-grade bond market to help repay a short-term loan that will cover the cost of its $10 billion share-buyback.
The aerospace and defense manufacturer sold $6 billion of bonds in five parts, according to a person with knowledge of the matter. The longest portion of the offering, a 30-year fixed-rate security, yields 1.60 percentage point above Treasuries, according to data compiled by Bloomberg. The notes were initially discussed at 1.875 percentage point, said the person, who asked not to be identified as the details are private.