Dover Corporation Announces Redemption Of 4.300% Notes Due 2021 And 2.125% Notes Due 2020

Date : 11/04/2019 @ 9:05PM
Source : PR Newswire (US)
Stock : Dover Corp (DOV)
Quote : 115.43  0.0 (0.00%) @ 12:00PM

Dover Corporation Announces Redemption Of 4.300% Notes Due 2021 And 2.125% Notes Due 2020

Dover (NYSE:DOV)
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DOWNERS GROVE, Ill., Nov. 4, 2019 /PRNewswire/ -- Dover (NYSE: DOV) announced today the full redemption of all of its outstanding 4.300% Notes due 2021 (the "4.300% Notes") and 2.125% Notes due 2020 (the "2.125% Notes" and, collectively with the 4.300% Notes, the "Notes"). The redemption date for each series of Notes is December 4, 2019 (the "Redemption Date").

(PRNewsfoto/Dover)

The aggregate principal amount of the 4.300% Notes outstanding is $450,000,000 and the aggregate principal amount of the 2.125% Notes outstanding is €300,000,000.

The 4.300% Notes are being redeemed at a redemption price equal to the sum of the principal amount of the 4.30% Notes outstanding, the make-whole amount calculated in accordance with the terms of the 4.300% Notes and the related indenture under which they were issued, plus accrued interest on the principal amount of the 4.300% Notes to, but excluding, the Redemption Date.

The 2.125% Notes are being redeemed at a redemption price equal to the sum of the principal amount of the 2.125% Notes outstanding, the make-whole amount calculated in accordance with the terms of the 2.125% Notes and the related indenture under which they were issued, plus accrued interest on the principal amount of the 2.125% Notes to, but excluding, the Redemption Date.

The applicable redemption price for each of the Notes will be determined as of the third business day prior to the Redemption Date.

Payment of the installment of interest on the 2.125% Notes due on December 1, 2019, will be made in the usual manner to Holders of record as of the close of business on November 15, 2019, the regular record date of such interest payment date.  

The 2.125% Notes are listed on the New York Stock Exchange under the symbol "DOV 20."  The address of the paying agent of the 2.125% Notes is The Bank of New York Mellon, One Canada Square, London E14 5AL United Kingdom. The address for the paying agent for the 4.300% Notes is The Bank of New York Mellon, 111 Sanders Creek, East Syracuse, New York 13057; Attn:  Corporate Trust Operations. Inquiries may be directed at the trustee for each series of Notes at 1-800-254-2826.

Notices of redemption are being sent by the applicable trustee for each series of Notes to all currently registered holders of such series of Notes.

About Dover:

Dover is a diversified global manufacturer with annual revenue of approximately $7 billion. We deliver innovative equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services through five operating segments: Engineered Products, Fueling Solutions, Imaging & Identification, Pumps & Process Solutions and Refrigeration & Food Equipment. Dover combines global scale with operational agility to lead the markets we serve. Recognized for our entrepreneurial approach for over 60 years, our team of approximately 24,000 employees takes an ownership mindset, collaborating with customers to redefine what's possible. Headquartered in Downers Grove, Illinois, Dover trades on the New York Stock Exchange under "DOV." Additional information is available at dovercorporation.com

Forward-Looking Statements:

This press release contains "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. All statements in this document other than statements of historical fact are statements that are, or could be deemed, "forward-looking" statements. Forward-looking statements are subject to numerous important risks, uncertainties, assumptions and other factors, some of which are beyond the Company's control. Factors that could cause actual results to differ materially from current expectations include, among other things, general economic conditions and conditions in the particular markets in which we operate, changes in customer demand and capital spending, competitive factors and pricing pressures, our ability to develop and launch new products in a cost-effective manner, our ability to realize synergies from newly acquired businesses, and our ability to derive expected benefits from restructuring, productivity initiatives and other cost reduction actions. For details on the risks and uncertainties that could cause our results to differ materially from the forward-looking statements contained herein, we refer you to the documents we file with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2018, and our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. These documents are available from the Securities and Exchange Commission, and on our website, dovercorporation.com. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.

Investor Contact:

Media Contact:

Andrey Galiuk

Adrian Sakowicz

Vice President - Corporate Development and Investor Relations

Vice President - Communications

(630) 743-5131

(630) 743-5039

agaliuk@dovercorp.com

asakowicz@dovercorp.com 

 

 

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SOURCE Dover Corporation

Copyright 2019 PR Newswire

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