March 24, 2009 (FinancialWire) -- Illinois Tool Works Inc. (NYSE: ITW) said it has priced $800 million of 5.15% notes due April 1, 2014 and $700 million principal amount of 6.25% notes due April 1, 2019, for a total offering of $1.5 billion.

The notes will be unsecured senior obligations of the company. Illinois Tool said it expects to close the offering on March 26, and plans to use the proceeds to repay short-term indebtedness as part of its commercial paper program and for general corporate purposes.

Glenview, Illinois-based Illinois Tool Works makes a range of industrial products and equipment. The company consists of 875 business units in 54 countries and employs around 65,000 people.

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