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Wednesday, April 7, 2010 as of 11:14 AM ET

European Debt Crisis

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The European sovereign debt crisis (referred to by analysts and investment banking professionals as The ESDC) is an ongoing financial crisis that has made it difficult or impossible for some countries in the euro area to re-finance their government debt without the assistance of third parties.

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United Technologies Brings 6-Part Deal To US Bond Market

United Technologies Corp.

(UTX) has hit the U.S. bond market with a six-part benchmark deal to help it finance its $16.5 billion takeover of Goodrich Corp. (GR).A deal size hasn't been determined, but a ratings action from Moody's Investors Service suggests the company proposed issuing $9.5 billion. A banker working on the deal expected it to be in the range of $8 billion to $10 billion. Syndicate desks still need to make a final call with United, one banker said.That would make it the largest deal of 2012 or 2011, according to Dealogic.Fitch Ratings notes the company plans to issue between $9 billion and $11 billion of debt to help fund the acquisition, which is expected to occur in mid-2012. The Hartford, Conn., company builds aircraft engines, helicopters, elevators, and other industrial systems.The offering comes on the same day that Pratt & Whitney, United's largest unit by net sales, said it would lay off 300 salaried employees in an effort to contain costs.The bond deal consists...

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  1. United Technologies Brings Mega 6-Part Deal To US Bond Market

    United Technologies Corp. (UTX) has hit the U.S. bond market with a six-part benchmark deal to help it finance its $16.5 billion takeover of Goodrich Corp. (GR).A de...

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