Acushnet Holdings Corp. Announces Pricing of Offering of Senior Notes
September 27 2023 - 04:05PM
Business Wire
Acushnet Holdings Corp. (NYSE: GOLF) today announced that its
wholly-owned subsidiary, Acushnet Company (the “Issuer”), priced an
offering of $350,000,000 in aggregate principal amount of senior
notes (the “Notes”). The proceeds from the Notes offering will be
used to repay existing borrowings under the Issuer’s revolving
secured credit facility and to pay fees and expenses related to the
Notes offering.
The Notes will bear interest at a rate of 7.375% per annum and
will pay interest semi-annually in arrears on April 15 and October
15 of each year, beginning on April 15, 2024. The Notes will mature
on October 15, 2028, unless earlier repurchased or redeemed in
accordance with their terms. The issuance of the Notes is expected
to occur on or about October 3, 2023, subject to the satisfaction
of customary closing conditions.
Certain statements in this press release are forward-looking
statements. These statements involve a number of risks,
uncertainties and other factors, including the failure to
consummate the Notes offering and potential changes in market
conditions that could cause actual results to differ
materially.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy the Notes, nor shall there be any
offer, solicitation or sale of the Notes in any state or other
jurisdiction in which such offer, solicitation or sale would be
unlawful. The Notes to be offered have not been registered under
the Securities Act of 1933, as amended (the “Securities Act”), or
the securities laws of any other jurisdiction and may not be
offered or sold in the United States absent registration or an
applicable exemption from the registration requirements of the
Securities Act. The Notes are being offered only to persons
reasonably believed to be qualified institutional buyers in the
United States in reliance on Rule 144A under the Securities Act and
outside the United States only to non-U.S. investors pursuant to
Regulation S under the Securities Act. Any offer of the Notes will
be made only by means of a private offering memorandum.
About Acushnet Holdings
Corp.
We are the global leader in the design, development, manufacture
and distribution of performance-driven golf products, which are
widely recognized for their quality excellence. Driven by our focus
on dedicated and discerning golfers and the golf shops that serve
them, we believe we are the most authentic and enduring company in
the golf industry. Our mission - to be the performance and quality
leader in every golf product category in which we compete - has
remained consistent since we entered the golf ball business in
1932. Today, we are the steward of two of the most revered brands
in golf - Titleist, one of golf’s leading performance equipment
brands, and FootJoy, one of golf’s leading performance wear
brands.
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version on businesswire.com: https://www.businesswire.com/news/home/20230927736328/en/
Media Contact: AcushnetPR@icrinc.com
Investor Contact: IR@AcushnetGolf.com
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