Our large transactions, culture and people are key to success and I'm very happy with everything I see at this point. We have already identified all of the $400 million of run rate synergies that we expect to achieve by year 5, and leadership is looking up more. I am confident that Alain and the team will identify additional synergies as they work through the integration process.We've completed the financing for Goodrich with a structure that was much better than originally expected. We issued the largest U.S. corporate bond offering since 2009, $9.8 billion at an average interest rate of less than 3%. We listen to our shareholders and we reduced our original need for equity issuance from $4 billion down to $1.1 billion of mandatory convertible units. We expect to pay down about 1/3 of the total [ph] purchase price by the end of 2012, using that proceeds from previously announced divestitures and cash from operations.
United Technologies Management Discusses Q2 2012 Results - Earnings Call Transcript
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