Carrier Global Corp. and Tapestry Inc. tapped investment-grade bond investors to raise funding for planned mergers and acquisitions as lower spreads lure in borrowers.

Carrier, which manufactures heating and cooling systems, raised $3 billion to help pay for the €12 billion ($13 billion) purchase of Viessmann’s climate solutions business, in addition to a €2.35 billion sale priced earlier Wednesday in Europe. The company sold the bonds in three parts, with the longest portion — a 30-year note — pricing at 152 basis points over similar-maturity Treasuries, lower than earlier discussions of around 190 basis points.