MEDINA, Ohio--(BUSINESS WIRE)--Feb. 25, 2019--
RPM International Inc. (NYSE: RPM) today announced that it has
agreed to sell $350 million aggregate principal amount of 4.550% notes
due 2029 (the “Notes”).
The sale of the Notes is expected to close February 27, 2019, and is
pursuant to the provisions of an underwriting agreement dated February
25, 2019, among RPM and Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Santander Investment Securities Inc. and Wells Fargo
Securities, LLC, as representatives of the underwriters.
RPM will pay interest on the Notes semiannually on March 1 and September
1 of each year, beginning on September 1, 2019.
The expected net proceeds from the offering of the Notes will be
approximately $346.2 million, after deducting the underwriting discount
and RPM’s estimated expenses related to the offering. RPM intends to use
the net proceeds to repay a portion of the outstanding borrowings under
its revolving credit facility and for general corporate purposes.
This press release shall not constitute an offer to sell, nor the
solicitation of an offer to buy, any of the securities, nor shall there
be any sale of these securities, in any jurisdiction in which such
offer, solicitation or sale is not permitted. The offering of the Notes
was registered under the Securities Act of 1933, as amended, and is
being made pursuant to RPM’s Registration Statement on Form S-3 filed by
RPM with the Securities and Exchange Commission.
The Notes will be offered pursuant to an effective registration
statement previously filed with the SEC. Before investing, investors
should read the prospectus in the registration statement and applicable
prospectus supplement and other documents the company has filed or will
file with the SEC for more complete information about the company and
the offering. These documents may be obtained for free by visiting EDGAR
on the SEC website. Alternatively, RPM, or any underwriter or any dealer
participating in the offering, will arrange to send interested parties
copies of the prospectus supplement and accompanying prospectus if
requested by contacting Merrill Lynch, Pierce, Fenner & Smith
Incorporated at 200 North College Street, NC1-004-03-43, Charlotte, NC
28255-0001, Attn: Prospectus Department, toll free at 1-800-294-1322 or
by e-mail at dg.prospectus_requests@baml.com, by
contacting Santander Investment Securities Inc. toll free at
1-855-403-3636 or by e-mail at debtprospectus@santander.us,
or by contacting Wells Fargo Securities, LLC at 608 2nd Avenue
South, Suite 1000, Minneapolis, MN 55402, Attn: WFS Customer Service,
toll free at 1-800-645-3751 or by e-mail at wfscustomerservice@wellsfargo.com.
About RPM
RPM International Inc. owns subsidiaries that are world leaders in
specialty coatings, sealants, building materials and related services
across three segments. RPM’s industrial products include roofing
systems, sealants, corrosion control coatings, flooring coatings and
other construction chemicals. Industrial companies include Stonhard,
Tremco, illbruck, Carboline, Flowcrete, Euclid Chemical and RPM Belgium
Vandex. RPM's consumer products are used by professionals and
do-it-yourselfers for home maintenance and improvement and by hobbyists.
Consumer brands include Rust-Oleum, DAP, Zinsser, Varathane and Testors.
RPM’s specialty products include industrial cleaners, colorants,
exterior finishes, specialty OEM coatings, edible coatings, restoration
services equipment and specialty glazes for the pharmaceutical and food
industries. Specialty segment companies include Day-Glo, Dryvit, RPM
Wood Finishes, Mantrose-Haeuser, Legend Brands, Kop-Coat and TCI.
For more information, contact Russell L. Gordon, vice president and
chief financial officer, at 330-273-5090 or rgordon@rpminc.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190225006099/en/
Source: RPM International Inc.
Russell L. Gordon, vice president and chief financial officer,
330-273-5090 or rgordon@rpminc.com
