Eaton Corp Plcraised $8.5 billion from selling investment-grade bonds Wednesday, as borrowers returned to the market after a pause triggered by war in the Middle East.
Proceeds from the six-part transaction, spanning two to 30 years, will be used to finance Eaton’s pending $9.5 billion acquisitionof liquid-cooling specialist Boyd Thermal, a deal aimed at tapping data-center demand driven by artificial intelligence. A floating-rate tranche was dropped during syndication, according to a person with direct knowledge of the matter.
The bond offering, initially targeted at about $8 billion, is the largest investment-grade bond sale since the US-Israeli strike ...
