NEW BRITAIN, Conn.,
Oct. 29, 2020 /PRNewswire/ --
Stanley Black & Decker, Inc.
(NYSE: SWK) (the "Company") announced today that it priced its
offering of $750 million aggregate
principal amount of 2.750% Notes due 2050 (the "Notes") at 99.735%
of par. The offering is being made under the Company's existing
shelf registration statement previously filed with the Securities
and Exchange Commission (the "SEC") and is expected to close on
November 2, 2020.
The Company will receive net proceeds of approximately
$739.5 million from the sale of the
Notes, after deducting the underwriting discount and offering
expenses. The Company intends to use the net proceeds from the
offering, along with short-term borrowings and cash on hand, to
redeem in full its 3.40% Notes due 2021 and its 2.90% Notes due
2022.
Barclays Capital Inc., Deutsche Bank Securities Inc., Goldman
Sachs & Co. LLC and Morgan Stanley & Co. LLC are acting as
joint book-running managers of this offering. HSBC Securities
(USA) Inc. and RBC Capital
Markets, LLC are acting as co-managers.
This press release does not constitute an offer to sell, or a
solicitation of an offer to buy, nor shall there be any sales of
the Notes in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such jurisdiction.
The offering of the Notes will be made only by means of a
prospectus and a related prospectus supplement. Before you invest,
you should read the prospectus, the related prospectus supplement
and the other documents the Company has filed with the SEC for more
complete information about the Company and the offering. Copies of
the final prospectus supplement for the offering may be obtained by
visiting EDGAR on the SEC's website at http://www.sec.gov.
Alternatively, copies may be obtained by contacting Barclays
Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, New York 11717,
by email at barclaysprospectus@broadridge.com or by calling
1-888-603-5847; Deutsche Bank Securities Inc., Attention:
Prospectus Department, 60 Wall Street, New York, New York 10005, by email at
prospectus.cpdg@db.com or by calling 1-800-503-4611; Goldman Sachs
& Co. LLC, Attention: Prospectus Department, 200 West Street,
New York, New York 10282, by email
at prospectus-ny@ny.email.gs.com or by calling 1-212-902-1171; and
Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180
Varick Street, 2nd Floor, New York,
NY 10014, by email at prospectus@morganstanley.com or by
calling 1-866-718-1649.
About Stanley Black &
Decker
Stanley Black & Decker, an
S&P 500 company, is a diversified global provider of hand
tools, power tools and related accessories, electronic security
solutions, healthcare solutions, engineered fastening systems, and
more.
Statements in this press release that are not historical,
including but not limited to those regarding the Company's: (i)
securities offerings and (ii) anticipated use of the net proceeds,
are "forward looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995 and subject to risk and
uncertainty. No assurance can be given that the offering will be
consummated on the terms described above or at all. Consummation of
the offering and the terms thereof are subject to numerous
conditions, many of which are beyond the control of the Company,
including: the prevailing conditions in the public and private
capital markets; interest rates; and economic, political and market
factors affecting trading volumes, securities prices or demand for
the Company's stock.
For a discussion of risks and uncertainties, which could cause
actual results to differ materially from those contained in the
forward-looking statements, see "Risk Factors" in the Company's
most recently filed Annual Report on Form 10-K and the subsequent
Quarterly Reports on Form 10-Q.
Investor Contacts
Dennis Lange
Vice President, Investor Relations
860-827-3833
dennis.lange@sbdinc.com
Cort Kaufman
Director, Investor Relations
(860) 515-2741
cort.kaufman@sbdinc.com
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SOURCE Stanley Black &
Decker