Hartford conglomerate United Technologies Corp. has prepaid $1 billion of the $2 billion due Dec. 31 from its loan to complete its acquisition of North Carolina aerospace manufacturer Goodrich Corp.
UTC took out the $2 billion loan on July 26 to pay a portion of the cash consideration for its $16 billion acquisition of Goodrich. The acquisition fleshed out UTC’s products offerings and matched with its other aerospace subsidiaries such as Hamilton Sundstrand of Windsor Locks and Pratt & Whitney of East Hartford.
The $2 billion principal was due on Dec. 31, but UTC decided to prepay half that amount on Monday.
UTC did not disclose who the debt is owed to.
