New Issue-ITT Corp sells $1 bln notes in 2 parts

April 28 (Reuters) - Diversified manufacturer ITT Corp
(ITT.N) on Tuesday sold $1 billion of senior notes in two
parts, said IFR, a Thomson Reuters service.

Citigroup and JP Morgan were the joint bookrunning managers
for the sale.
BORROWER: ITT CORPORATION
FIRST TRANCHE:
AMT $500 MLN COUPON 4.90 PCT MATURITY 5/1/2014
TYPE SR NOTES ISS PRICE 99.807 FIRST PAY 11/1/2009
MOODY'S Baa1 YIELD 4.944 PCT SETTLEMENT 5/1/2009
S&P BBB-PLUS SPREAD 300 BPS/ PAY FREQ SEMI-ANNUAL
FITCH A-MINUS MORE THAN TREAS MAKE-WHOLE CALL 50 BPS
SECOND TRANCHE:
AMT $500 MLN COUPON 6.125 PCT MATURITY 5/1/2019
TYPE SR NOTES ISS PRICE 99.86 FIRST PAY 11/1/2009
MOODY'S Baa1 YIELD 6.144 PCT SETTLEMENT 5/1/2009
S&P BBB-PLUS SPREAD 312.5 BPS/ PAY FREQ SEMI-ANNUAL
FITCH A-MINUS MORE THAN TREAS MAKE-WHOLE CALL 50 BPS
*COC PUT AT 101.