Global alternative asset manager The Carlyle Group L.P. (NASDAQ:CG)
(“Carlyle”) today announced the pricing of a $400 million offering
of 16,000,000 of its 5.875% Series A Preferred Units representing
limited partner interests with a liquidation preference of $25.00
per unit. The offering is expected to close on September 13, 2017,
subject to satisfaction of customary closing
conditions.
Carlyle intends to use the net proceeds from the
sale of the Series A Preferred Units for general corporate
purposes.
Distributions on the Series A Preferred Units,
when and if declared by the board of directors of Carlyle’s general
partner, will be paid quarterly and are non-cumulative.
Carlyle intends to apply to list the Series A
Preferred Units on the Nasdaq under the symbol “TCGP”.
Morgan Stanley & Co. LLC, Merrill Lynch,
Pierce, Fenner & Smith Incorporated, UBS Securities LLC, Wells
Fargo Securities, LLC and J.P. Morgan Securities LLC are acting as
joint book-running managers for the offering. Barclays Capital Inc.
and Goldman Sachs & Co. LLC are acting as co-managers for the
offering.
The offering of these securities is being made
pursuant to an effective shelf registration statement. This
offering will be made only by means of a prospectus. A copy of the
prospectus, when available, may be obtained from (1) Morgan Stanley
& Co. LLC, 180 Varick Street, 2nd Floor, New York, New York
10014, Attention: Prospectus Department, by phone at (866)
718-1649, or e-mailing: prospectus@morganstanley.com, (2) Merrill
Lynch, Pierce, Fenner & Smith Incorporated, NC1-004-03-43, 200
North College Street, 3rd floor, Charlotte, NC 28255-0001,
Attention: Prospectus Department, by phone at 1-800-294-1322 or by
emailing: dg.prospectus_requests@baml.com, (3) UBS Securities LLC,
1285 Avenue of the Americas, New York, New York 10019, Attention:
Prospectus Department, by phone at (888) 827-7275, (4) Wells Fargo
Securities, LLC, 608 2nd Avenue South, Suite 1000, Minneapolis, MN
55402, Attention: WFS Customer Service, by phone at 1-800-645-3751
or by emailing: wfscustomerservice@wellsfargo.com or (5) J.P.
Morgan Securities LLC, 383 Madison Avenue, New York, New York
10179, Attention: Investment Grade Syndicate Desk, by phone at
(212) 834-4533.
This news release shall not constitute an offer
to sell or the solicitation of an offer to buy, nor shall there be
any sale of these securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About The Carlyle Group
The Carlyle Group (NASDAQ:CG) is a global
alternative asset manager with nearly $170 billion of assets under
management across 299 investment vehicles as of June 30, 2017.
Carlyle’s purpose is to invest wisely and create value on behalf of
its investors, many of whom are public pensions. Carlyle invests
across four segments – Corporate Private Equity, Real Assets,
Global Market Strategies and Investment Solutions – in Africa,
Asia, Australia, Europe, the Middle East, North America and South
America. Carlyle has expertise in various industries, including:
aerospace, defense & government services, consumer &
retail, energy, financial services, healthcare, industrial, real
estate, technology & business services, telecommunications
& media and transportation. The Carlyle Group employs more than
1,550 people in 31 offices across six continents.
Forward Looking Statements
This news release may contain forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934.
These statements include, but are not limited to, statements
related to Carlyle’s expectations regarding the performance of its
business, financial results, liquidity and capital resources,
contingencies, distribution policy, and other non-historical
statements. You can identify these forward-looking statements by
the use of words such as “outlook,” “believes,” “expects,”
“potential,” “continues,” “may,” “will,” “should,” “seeks,”
“approximately,” “predicts,” “intends,” “plans,” “estimates,”
“anticipates” or the negative version of these words or other
comparable words. Such forward-looking statements are subject to
various risks, uncertainties and assumptions. Accordingly, there
are or will be important factors that could cause actual outcomes
or results to differ materially from those indicated in these
statements including, but not limited to, those described under the
section entitled “Risk Factors” in Carlyle’s Annual Report on Form
10-K for the year ended December 31, 2016 filed with the United
States Securities and Exchange Commission (“SEC”) on February 16,
2017, as such factors may be updated from time to time in its
periodic filings with the SEC, which are accessible on the SEC’s
website at www.sec.gov. These factors should not be construed as
exhaustive and should be read in conjunction with the other
cautionary statements that are included in this release and in
Carlyle’s other periodic filings with the SEC. Carlyle undertakes
no obligation to publicly update or review any forward-looking
statements, whether as a result of new information, future
developments or otherwise, except as required by applicable
law.
This release does not constitute an offer for
any Carlyle fund.
Media Contact:
Liz Gill
+1- 202-729-5385
elizabeth.gill@carlyle.com
Investor Contact:
Daniel Harris
+1-212-813-4527
daniel.harris@carlyle.com
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