Xerium Technologies, Inc. Announces Pricing of Senior Secured Notes Offering
July 26 2016 - 10:05PM
Business Wire
Xerium Technologies, Inc. (NYSE:XRM), a leading global provider
of industrial consumable products and services, today announced the
pricing of its $480 million aggregate principal amount of 9.500%
Senior Secured Notes due 2021 (the "Notes"). The Notes will be
issued at a price equal to 98.540% of their face value. The Notes
will pay interest semi-annually in arrears on February 15 and
August 15 of each year beginning on February 15, 2017 and will
mature on August 15, 2021, unless earlier redeemed or
repurchased.
Xerium intends to use the net proceeds from the offering to
repay all amounts outstanding under its existing term loan credit
facility, to redeem all of its 8.875% Senior Notes due 2018 at a
redemption price equal to 102.219% of the principal amount thereof,
together with accrued and unpaid interest, if any, to the date of
redemption, to pay fees and expenses relating to these
transactions, and for working capital and other general corporate
purposes.
The Notes have not been registered under the Securities Act of
1933, as amended (the "Securities Act"), or any state securities
laws and may not be offered or sold in the United States or to any
U.S. persons absent registration under the Securities Act, or
pursuant to an applicable exemption from, or in a transaction not
subject to, the registration requirements of the Securities Act and
applicable state securities laws. The Notes are being offered only
to "qualified institutional buyers" under Rule 144A of the
Securities Act or, outside the United States, to persons other than
"U.S. persons" in compliance with Regulation S under the Securities
Act.
This press release is issued pursuant to Rule 135c of the
Securities Act, is for informational purposes only and shall not
constitute an offer to sell nor the solicitation of an offer to buy
the Notes or any other securities. The offering of the Notes will
not be made to any person in any jurisdiction in which the offer,
solicitation or sale is unlawful.
ABOUT XERIUM TECHNOLOGIES
Xerium Technologies, Inc. (NYSE:XRM) is a leading global
provider of industrial consumable products and services. Xerium,
which operates around the world under a variety of brand names,
utilizes a broad portfolio of patented and proprietary technologies
to provide customers with tailored solutions and products integral
to production, all designed to optimize performance and reduce
operational costs. With 30 manufacturing facilities in 13 countries
around the world, Xerium has approximately 3,000 employees.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements. The
words "will", "believe," "estimate," "expect," "intend,"
"anticipate," "goals," variations of such words, and similar
expressions identify forward-looking statements, but their absence
does not mean that the statement is not forward-looking.
Forward-looking statements are not guarantees of future
performance, and actual results may vary materially from the
results expressed or implied in such statements. Differences may
result from actions taken by us, as well as from risks and
uncertainties beyond our control. These risks and uncertainties
include the risks and uncertainties discussed elsewhere in this
press release, our Form 10-K for the year ended December 31, 2015
filed on March 14, 2016 and our other SEC filings. If any of these
risks or uncertainties materialize, or if our underlying
assumptions prove to be incorrect, actual results may vary
significantly from what we projected. Any forward-looking statement
in this press release reflects our current views with respect to
future events. Except as required by law, we assume no obligation
to publicly update or revise these forward-looking statements for
any reason, whether as a result of new information, future events,
or otherwise. We are subject to substantial risks and uncertainties
related to current economic conditions, and we encourage investors
to refer to our SEC filings for additional information.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160726006639/en/
Xerium Technologies, Inc.Clifford Pietrafitta,
919-526-1403Cliff.Pietrafitta@xerium.com
Xerium (NYSE:XRM)
Historical Stock Chart
From Mar 2024 to Apr 2024
Xerium (NYSE:XRM)
Historical Stock Chart
From Apr 2023 to Apr 2024