Gates Announces Pricing Of $568 Million Of 6.25% Senior Notes Due 2026
Gates Announces Pricing Of $568 Million Of 6.25% Senior Notes Due 2026 |
[20-November-2019] |
DENVER, Nov. 20, 2019 /PRNewswire/ -- Gates Industrial Corporation plc (NYSE: GTES, "Gates") announced today that its indirect subsidiaries Gates Global LLC and Gates Corporation (the "Issuers" and, together with Gates, the "Company") finalized the terms of the previously announced offering of $568.0 million aggregate principal amount of 6.250% Senior Notes due 2026 (the "notes"). Gates anticipates that consummation of the offering will occur on November 22, 2019, subject to customary closing conditions. The Company intends to use the proceeds from the offering, together with cash on hand, to redeem all $568.0 million in aggregate principal amount of its outstanding 6.000% Senior Notes due 2022 (the "2022 Notes") and to pay fees and expenses incurred in connection with the offering and the redemption of the 2022 Notes.
The notes offered have not been and will not be registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws and, unless so registered, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The notes will be offered by the initial purchasers only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act and non-U.S. persons in transactions outside the United States in reliance on Regulation S under the Securities Act. This press release is being issued pursuant to Rule 135c under the Securities Act, and it is neither an offer to sell nor a solicitation of an offer to buy any securities and shall not constitute an offer to sell or a solicitation of an offer to buy, or a sale of any securities in any jurisdiction in which such offer, solicitation or sale is unlawful. About Gates: Forwardâ€Looking Statements and Information: Contacts: View original content to download multimedia:http://www.prnewswire.com/news-releases/gates-announces-pricing-of-568-million-of-6-25-senior-notes-due-2026--300962572.html SOURCE Gates Industrial Corporation plc | ||
Company Codes: NYSE:GTES |
© 2019 PR Newswire. All Rights Reserved.