Textron prices $350M of 5.5% notes to refinance 2027 debt
What's the deal? TextronDealroom has a profile for this one. Try Dealroom → has priced $350 million of 5.5% notes due March 2032, the company said in a filing dated November 2, 2026. The notes sold at 99.801% of par, yielding 5.545% to maturity, with settlement expected November 4.
Why now? The offering refinances Textron's $350 million of 3.65% notes maturing in 2027, pushing the maturity out to 2032. S&PDealroom has a profile for this one. Try Dealroom → rated the new notes BBB and called the transaction leverage-neutral.
What's the endgame? This is routine balance-sheet management, not funding for a new expansion. The 5.5% coupon costs more than the maturing debt, but the amount is modest against Textron's roughly $3.5 billion of total debt.
The notes carry expected ratings of Baa1 from Moody's and BBB from S&P, both stable. Interest will be paid twice a year, starting March 15, 2027. BofA SecuritiesDealroom has a profile for this one. Try Dealroom →, Citigroup, MUFG, SMBC Nikko, U.S. Bancorp Investments, and Wells Fargo Securities served as joint book-running managers.
The signal: The issuance comes after Textron reported stronger third-quarter results — revenue up 4% to $3.751 billion — and raised its 2026 earnings and cash-flow outlook. Far from a sign of stress, the deal reads as an investment-grade industrial tidying up its debt stack while borrowing costs stay elevated.
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