Parker-Hannifin Corporation filed a Current Report on Form 8-K with the SEC on September 10, 2026, disclosing the pricing of two concurrent senior note offerings totaling $2.4 billion in U.S. dollar-denominated notes and €2.025 billion in euro-denominated notes, with proceeds intended to repay borrowings tied to the acquisition of Filtration Group Corporation.

Key Highlights

  • U.S. Notes total: $2.4 billion in aggregate principal amount across four tranches, priced on September 8, 2026.
  • Euro Notes total: €2.025 billion in aggregate principal amount across three tranches, priced on September 9, 2026.
  • U.S. interest rates: 4.750% (2028), 4.875% (2029), 5.125% (2031), and 5.300% (2033), per annum.
  • Euro interest rates: 3.800% (2030), 4.040% (2032), and 4.375% (2036), per annum.
  • Use of proceeds: Net proceeds, together with cash on hand, are intended to repay borrowings under the 364-Day Term Loan Agreement dated December 10, 2025, incurred in connection with the acquisition of Filtration Group Corporation.
  • Expected closing: Both offerings are expected to close on or about September 14, 2026, subject to customary closing conditions.

Parker-Hannifin Dual-Currency Debt Offering Details and Intended Use of Proceeds

According to the filing, Parker-Hannifin Corporation (NYSE:PH) entered into a U.S. Notes Underwriting Agreement on September 8, 2026, with Barclays Capital Inc., Citigroup Global Markets Inc., and Morgan Stanley & Co. LLC as representatives of the underwriters. The U.S. Notes consist of four tranches: $525 million due 2028 at 4.750% per annum, $500 million due 2029 at 4.875% per annum, $750 million due 2031 at 5.125% per annum, and $625 million due 2033 at 5.300% per annum. The filing states that interest on the 2028 and 2029 notes will be paid semi-annually on March 14 and September 14, commencing March 14, 2027, while the 2031 notes pay on March 19 and September 19, and the 2033 notes pay on March 16 and September 16.

The euro-denominated offering was priced on September 9, 2026, under a separate underwriting agreement with Barclays Bank PLC, Citigroup Global Markets Limited, and Morgan Stanley & Co. International plc as representatives. The Euro Notes comprise €700 million due 2030 at 3.800% per annum, €800 million due 2032 at 4.040% per annum, and €525 million due 2036 at 4.375% per annum. The filing notes that, unlike the U.S. Notes, each series of Euro Notes pays interest annually in arrears, with the 2030 notes paying on March 1, the 2032 notes on March 3, and the 2036 notes on March 5, each commencing in 2027.

Both offerings are registered under the Securities Act of 1933 via Registration Statement on Form S-3 (Registration No. 333-298527), which the filing states initially became effective on August 24, 2026. Each series of notes is issued under an indenture dated September 5, 2023, between the company and The Bank of New York Mellon Trust Company, N.A., as Trustee. The company disclosed that proceeds are intended, together with cash on hand, to repay borrowings under the 364-Day Term Loan Agreement dated December 10, 2025, which was incurred in connection with the acquisition of Filtration Group Corporation. The filing contains forward-looking statements that, according to the company's own cautionary language, are subject to uncertainties and risks and may differ materially from past performance or current expectations.

What Was Disclosed

Parker-Hannifin disclosed the pricing and terms of two senior note offerings totaling $2.4 billion (U.S.) and €2.025 billion (Euro) across seven tranches, with both offerings expected to close around September 14, 2026, and proceeds earmarked to repay acquisition-related term loan borrowings.