RPM Announces Offering of $300 Million of 4.250% Notes due 2048
December 06 2017 - 05:41PM
Business Wire
RPM International Inc. (NYSE:RPM) today announced that it agreed
to sell $300 million aggregate principal amount of 4.250% notes due
2048 (the "Notes").
The sale of the Notes is expected to close December 20, 2017,
and is pursuant to the provisions of an underwriting agreement
dated December 6, 2017, among RPM and Merrill Lynch, Pierce, Fenner
& Smith Incorporated and Wells Fargo Securities, LLC as
representatives of the underwriters.
RPM will pay interest on the Notes semiannually on January 15
and July 15 of each year, beginning on July 15, 2018.
The expected net proceeds from the offering of the Notes will be
approximately $296.2 million, after deducting the underwriting
discount and RPM's expenses related to the offering. RPM intends to
use the net proceeds to repay, redeem or refinance $250.0 million
in principal amount of unsecured senior notes due February 15,
2018, which bear interest at 6.50%, together with accrued and
unpaid interest thereon, and for general corporate purposes.
This press release shall not constitute an offer to sell, nor
the solicitation of an offer to buy, any of the securities, nor
shall there be any sale of these securities, in any jurisdiction in
which such offer, solicitation or sale is not permitted. The
offering of the Notes was registered under the Securities Act of
1933, as amended, and is being made pursuant to RPM's Registration
Statement on Form S-3 filed by RPM with the Securities and Exchange
Commission.
The Notes will be offered pursuant to an effective registration
statement previously filed with the SEC. Before investing,
investors should read the prospectus in the registration statement
and applicable prospectus supplement and other documents the
company has filed or will file with the SEC for more complete
information about the company and the offering. These documents may
be obtained for free by visiting EDGAR on the SEC website.
Alternatively, RPM, or any underwriter or any dealer participating
in the offering, will arrange to send interested parties copies of
the prospectus supplement and accompanying prospectus if requested
by contacting Merrill Lynch, Pierce, Fenner & Smith
Incorporated at 200 North College Street, NC1-004-03-43, Charlotte,
NC 28255-0001, Attn: Prospectus Department, toll free at
1-800-294-1322 or by e-mail at dg.prospectus_requests@baml.com or
by contacting Wells Fargo Securities, LLC at 608 2nd Avenue South,
Suite 1000, Minneapolis, MN 55402, Attn: WFS Customer Service, toll
free at 1-800-645-3751 or by e-mail at
wfscustomerservice@wellsfargo.com.
About RPM
RPM International Inc. owns subsidiaries that are world leaders
in specialty coatings, sealants, building materials and related
services across three segments. RPM’s industrial products include
roofing systems, sealants, corrosion control coatings, flooring
coatings and other construction chemicals. Industrial companies
include Stonhard, Tremco, illbruck, Carboline,
Flowcrete, Euclid Chemical and RPM
Belgium Vandex. RPM's consumer products are used by professionals
and do-it-yourselfers for home maintenance and improvement and by
hobbyists. Consumer brands include Rust-Oleum, DAP, Zinsser,
Varathane and Testors. RPM’s specialty products include industrial
cleaners, colorants, exterior finishes, specialty OEM coatings,
edible coatings, restoration services equipment and specialty
glazes for the pharmaceutical and food industries. Specialty
segment companies include Day-Glo, Dryvit, RPM Wood Finishes,
Mantrose-Haeuser, Legend Brands, Kop-Coat and TCI. Additional
details can be found at www.rpminc.com and by following RPM on
Twitter at www.twitter.com/RPMintl.
For more information, contact Barry M. Slifstein, vice president
– investor relations, at 330-273-5090 or bslifstein@rpminc.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20171206006359/en/
Barry M. Slifstein, 330-273-5090Vice President – Investor
Relationsbslifstein@rpminc.com
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