MEDINA, Ohio--(BUSINESS WIRE)--Dec. 6, 2017--
RPM
International Inc. (NYSE:RPM) today announced that it agreed to sell
$300 million aggregate principal amount of 4.250% notes due 2048 (the
"Notes").
The sale of the Notes is expected to close December 20, 2017, and is
pursuant to the provisions of an underwriting agreement dated December
6, 2017, among RPM and Merrill Lynch, Pierce, Fenner & Smith
Incorporated and Wells Fargo Securities, LLC as representatives of the
underwriters.
RPM will pay interest on the Notes semiannually on January 15 and July
15 of each year, beginning on July 15, 2018.
The expected net proceeds from the offering of the Notes will be
approximately $296.2 million, after deducting the underwriting discount
and RPM's expenses related to the offering. RPM intends to use the net
proceeds to repay, redeem or refinance $250.0 million in principal
amount of unsecured senior notes due February 15, 2018, which bear
interest at 6.50%, together with accrued and unpaid interest thereon,
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
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.
Additional details can be found at www.rpminc.com
and by following RPM on Twitter at www.twitter.com/RPMintl.
For more information, contact Barry M. Slifstein, vice president –
investor relations, at 330-273-5090 or bslifstein@rpminc.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171206006359/en/
Source: RPM International Inc.
Barry M. Slifstein, 330-273-5090
Vice President – Investor Relations
bslifstein@rpminc.com
