Otis Worldwide Corporation, founded in 2020 and headquartered in Farmington, Connecticut, is a leading global manufacturer and service provider of elevators and escalators. The company was formed following the spin-off from United Technologies Corporation, focusing on delivering advanced mobility solutions that enhance the urban experience. Key products and services include passenger and freight elevators, escalators, and moving walkways, along with modernization and maintenance solutions to optimize performance and safety.
Company overview and issue history are AI generated, and should not be cited or relied on without verification.
Otis has a history of bond issuances dating back to its establishment as a standalone entity. Its inaugural bond offering was in 2020, consisting of $1.5 billion in senior notes that attracted significant investor interest, reflecting a robust credit profile. Recent bond yields are competitive within the industry, aligning closely with peers involved in the manufacturing sector. Additionally, in 2022, Otis issued $1 billion in green bonds to fund sustainability projects, showcasing its commitment to environmentally responsible practices while providing investors with attractive fixed income options.