Davis Polk advised the joint lead dealer managers in connection with the registered offers by Johnson Controls International plc (“JCI plc”) to exchange certain outstanding debt securities of Johnson Controls, Inc. (“JCI Inc.”) and Tyco International Finance S.A. (“TIFSA”), both wholly owned subsidiaries of JCI plc, for an aggregate of approximately $5.65 billion and €422 million of newly issued debt securities of JCI plc. The transaction consisted of exchange offers pursuant to which 18 tranches of newly issued debt securities of JCI plc were offered in exchange for 18 tranches of outstanding debt securities of JCI Inc. and TIFSA, along with related consent solicitations to amend the indentures governing the outstanding debt securities of JCI Inc. and TIFSA.

Johnson Controls is a global diversified technology and multi-industrial leader serving a wide range of customers in more than 150 countries. The company works to create intelligent buildings, efficient energy solutions, integrated infrastructure and next generation transportation systems that work seamlessly together to deliver on the promise of smart cities and communities.

The Davis Polk corporate team included partner Joseph A. Hall, counsel Marcel Fausten and associate John H. Runne. Partner Rachel D. Kleinberg and associates Catherine L. Chu and Vinay Prabhakar provided tax advice. The environmental team included counsel David A. Zilberberg. Members of the Davis Polk team are based in the New York and Northern California offices.

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