APi Group Announces Pricing of Upsized $350 Million Senior Notes Offering
June 16 2021 - 7:15AM
Business Wire
APi Group Corporation (NYSE: APG) (“APG”, or “APi” or the
“Company”) today announced the upsizing and pricing of the
previously announced offering by APi Group DE, Inc., a wholly-owned
subsidiary of the Company, of $350 million aggregate principal
amount of 4.125% Senior Notes due 2029 at an issue price of $1,000
per $1,000 principal amount (the “Notes”), representing a $50
million increase from the original offering size. The Notes are
being offered solely to persons reasonably believed to be qualified
institutional buyers pursuant to Rule 144A under the Securities Act
of 1933, as amended (the “Securities Act”), and to non-U.S. persons
in accordance with Regulation S under the Securities Act.
The private offering is expected to close on June 22, 2021,
subject to customary closing conditions. The Notes will be fully
and unconditionally guaranteed on a senior unsecured basis by the
Company and certain of the Company’s existing and future domestic
subsidiaries.
The Company estimates that the gross proceeds from the sale of
the Notes will be approximately $350 million, before deducting
estimated fees and expenses. The Company intends to use the net
proceeds from the sale of the Notes to repay outstanding
indebtedness and for general corporate purposes, as well as for
transaction fees and expenses.
No assurance can be given that the offering of the Notes will be
completed, or, if completed, as to the terms on which it is
completed. The Notes and related guarantees have not been
registered under the Securities Act or any state securities laws
and, unless so registered, may not be offered or sold in the United
States absent registration or an applicable exemption from such
registration requirements of the Securities Act and any applicable
state securities laws.
This press release does not constitute an offer to sell, or a
solicitation of an offer to purchase, of any security and shall not
constitute an offer, solicitation or sale of any security in any
jurisdiction in which such offer or solicitation would be unlawful.
This press release is being issued pursuant to and in accordance
with Rule 135c under the Securities Act.
Forward-Looking Statements
This press release contains forward-looking statements,
including, but not limited to, statements regarding the completion
and timing of the offering of the Notes, and the Company’s planned
use of any proceeds from the offering of the Notes. Actual results
could differ from those projected in any forward-looking statements
due to numerous factors. Such factors include, among others, market
and other general economic conditions, the Company’s and the
initial purchasers’ ability to satisfy the conditions required to
close the offering of the Notes, the Company’s perception of future
availability of equity or debt financing needed to fund its
businesses and the risk factors set forth in the periodic reports
and other documents filed or to be filed by the Company with the
Securities and Exchange Commission, including the Company’s annual
report on Form 10-K for the year ended December 31, 2020 and
quarterly report on Form 10-Q for the quarter ended March 31, 2021.
These forward-looking statements are made as of the date of this
press release and the Company undertakes no obligation to update
any forward-looking statements, whether as a result of new
information, future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20210616005493/en/
Investor Relations Inquiries: Olivia Walton Vice
President of Investor Relations Tel: +1 651-604-2773 Email:
investorrelations@apigroupinc.us
Media Contact: Liz Cohen Kekst CNC Tel: +1 212-521-4845
Email: Liz.Cohen@kekstcnc.co
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