Ashland Global Holdings Inc. announces completion of senior notes offering by Ashland LLC
August 18 2021 - 5:00PM
Ashland Global Holdings Inc. (NYSE: ASH) announced today that its
indirect, wholly owned subsidiary, Ashland LLC, has closed its
previously announced offering of $450 million aggregate principal
amount of 3.375 percent senior notes due 2031 (the “Notes”).
The Notes are senior unsecured obligations of
Ashland LLC. The Notes are initially 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 were 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 Ashland
Ashland 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 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 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 Closing Press Release 081821 FNL
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