Ashland Global Holdings Inc. announces pricing of senior notes offering by Ashland LLC
August 03 2021 - 5:00PM
Ashland Global Holdings Inc. (NYSE: ASH) today announced the
pricing of an offering by its indirect, wholly owned subsidiary,
Ashland LLC, of $450 million aggregate principal amount of 3.375
percent senior notes due 2031 (the “Notes”).
The Notes will be senior unsecured obligations
of Ashland LLC. The offering is expected to close on August 18,
2021 subject to customary closing conditions.
The Notes will initially be guaranteed on an
unsecured basis by Ashland Global Holdings Inc. (the
“Guarantee”).
Ashland intends to use the net proceeds of the
offering, after deducting initial purchasers’ discounts and other
fees and expenses, to redeem its obligations under its outstanding
4.750 percent senior notes due 2022, and to pay any premiums,
penalties, fees and expenses associated therewith (the
“Refinancing”), with any remaining net proceeds to be held as cash
on the balance sheet and used for general corporate purposes, which
may include working capital, capital expenditures, and repayment of
indebtedness.
The Notes are being offered in the United States
to (i) qualified institutional buyers pursuant to Rule 144A under
the Securities Act of 1933, as amended (the “Securities Act”), and
(ii) to non-U.S. persons outside the United States pursuant to
Regulation S under the Securities Act. The Notes and the Guarantee
have not been, and will not be, registered under the Securities Act
or the securities laws of any other jurisdiction, and may not be
offered or sold in the United States or to U.S. persons without
registration under the Securities Act, the securities laws of any
other jurisdiction, or an applicable exemption from the
registration requirements.
This news release shall not constitute an offer
to sell, or a solicitation of an offer to buy, any security,
including the Notes, in any jurisdiction in which such offer,
solicitation, or sale would be unlawful.
About AshlandAshland Global
Holdings Inc. (NYSE: ASH) is a premier specialty materials company
with a conscious and proactive mindset for sustainability. The
company serves customers in a wide range of consumer and industrial
markets, including adhesives, architectural coatings, automotive,
construction, energy, food and beverage, nutraceuticals, personal
care and pharmaceutical. Approximately 4,200 passionate, tenacious
solvers – from renowned scientists and research chemists to
talented engineers and plant operators – thrive on developing
practical, innovative and elegant solutions to complex problems for
customers in more than 100 countries. Visit www.ashland.com
and Ashland | Sustainability Overview to learn more.
Forward-Looking Statements
This news release contains forward-looking
statements within the meaning of Section 27A of the Securities Act
and Section 21E of the Securities Exchange Act of 1934, as
amended. Ashland has identified some of these forward-looking
statements with words such as “anticipates,” “believes,” “expects,”
“estimates,” “is likely,” “predicts,” “projects,” “forecasts,”
“objectives,” “may,” “will,” “should,” “plans” and “intends” and
the negative of these words or other comparable terminology.
In addition, Ashland may from time to time make forward-looking
statements in its annual report to shareholders, quarterly reports
and other filings with the Securities and Exchange Commission
(SEC), news releases and other written and oral
communications. These forward-looking statements are based on
Ashland’s expectations and assumptions, as of the date such
statements are made, regarding Ashland’s future operating
performance, financial condition and expected effects of the
COVID-19 pandemic on Ashland’s business, operating cash flow and
liquidity, as well as the economy and other future events or
circumstances. These statements include, but may not be limited to,
statements about the potential Notes offering and the use of
proceeds therefrom, including in connection with the
Refinancing. Various risks and uncertainties may cause actual
results to differ materially from those stated, projected or
implied by any forward-looking statements. The extent and duration
of the COVID-19 pandemic on our business and operations is
uncertain. Factors that will influence the impact on our
business and operations include, without limitation, risks and
uncertainties affecting Ashland that are described in its most
recent Form 10-K (including Item 1A Risk Factors) filed with the
SEC, which is available on Ashland’s website at
http://investor.ashland.com or on the SEC’s website at
http://www.sec.gov. Ashland believes its expectations and
assumptions are reasonable, but there can be no assurance that the
expectations reflected herein will be achieved. Unless
legally required, Ashland undertakes no obligation to update any
forward-looking statements made in this news release whether as a
result of new information, future events or otherwise.
Information on Ashland’s website is not incorporated into or a part
of this news release.
™ Trademark, Ashland or its subsidiaries,
registered in various countries.
FOR FURTHER INFORMATION:
Investor
Relations:
Media Relations:Seth A.
Mrozek
Carolmarie C. Brown+1 (302)
594-5010
+1 (302)
995-3158samrozek@ashland.com
ccbrown@ashland.com
- ASH 2021 Notes - Bond Pricing Press Release 20210803 FNL
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