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Ingersoll-Rand unit launches $1.6 bln 3-part sale-IFR

Tue Aug 12, 2008 4:55pm EDT

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NEW YORK, Aug 12 (Reuters) - Ingersoll-Rand Global Holding Co Ltd, a unit of Ingersoll-Rand Co (IR.N), on Tuesday launched its $1.6 billion three-part note sale, said International Financing Review.

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The $250 million two-year floating-rate note portion was launched at 1.50 percentage points more than the three-month London interbank offered rate and the $600 million five-year tranche was launched at 2.875 percentage points more than U.S. Treasuries.

The third tranche, $750 million of 10-year notes, was launched at 3.00 percentage points over Treasuries.

Pricing of the notes is expected later on Tuesday.

Credit Suisse, Goldman Sachs and JP Morgan are the joint lead managers of the sale, said IFR, a Thomson Reuters publication. (Reporting by Pam Niimi; Editing by Dan Grebler)

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