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UT Credit Corporation - Bond - United Technologies Corporation

Inv# GB6312   Bond
Country: United States
State(s): Delaware
Years: 1976
Color: Green, Blue, Brown, and Orange

Registered Bond. Available in Green, Blue, Brown, and Orange. Please specify color. The United Technologies Corporation said it had entered into separate preliminary agreements to sell two of its financial subsidiaries. The company, with headquarters in Hartford, would sell the UT Credit Corporation and certain of its subsidiaries to Jet Florida Inc., Miami, and the MGC Leasing Corporation for an aggregate cash price of about $200 million. The UT Financial Services Corporation and its unit, the UT Leasing Corporation, would be purchased by the Zapata Corporation of Houston for an aggregate cash price of about $134 million. (From New York Times, 1988)

United Technologies Corporation (UTC) was an American multinational conglomerate headquartered in Farmington, Connecticut. It merged with the Raytheon Company in April 2020 to form Raytheon Technologies. It researched, developed, and manufactured products in numerous areas, including aircraft engines, aerospace systems, HVAC, elevators and escalators, fire and security, building automation, and industrial products, among others. UTC was also a large military contractor, getting about 10% of its revenue from the U.S. government. Gregory J. Hayes was the CEO and chairman.

In 1974, Harry Gray left Litton Industries to become the CEO of United Aircraft. He pursued a strategy of growth and diversification, changing the parent corporation's name to United Technologies Corporation (UTC) in 1975 to reflect the intent to diversify into numerous high tech fields beyond aerospace. (The change became official on May 1, 1975.) The diversification was partially to balance civilian business against any overreliance on military business. UTC became a mergers and acquisitions (M&A)–focused organization, with various forced takeovers of unwilling smaller corporations. The next year (1976), UTC forcibly acquired Otis Elevator. In 1979, Carrier Refrigeration and Mostek were acquired; the Carrier deal was forcible, while the Mostek deal was a white knight move against hostile takeover designs by Gould. Read more at

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Condition: Excellent

A bond is a document of title for a loan. Bonds are issued, not only by businesses, but also by national, state or city governments, or other public bodies, or sometimes by individuals. Bonds are a loan to the company or other body. They are normally repayable within a stated period of time. Bonds earn interest at a fixed rate, which must usually be paid by the undertaking regardless of its financial results. A bondholder is a creditor of the undertaking.

Item ordered may not be exact piece shown. All original and authentic.
Price: $10.00