11.07.14
PPG Industries has announced that it has commenced a public offering of senior notes (the “Notes”). The offering will be made pursuant to PPG’s effective shelf registration statement filed with the Securities and Exchange Commission.
PPG intends to use the net proceeds from the offering, together with cash on hand, to fund the purchase of its debt securities pursuant to its concurrent tender offer for any and all of certain series of its outstanding debt securities (the “Tender Offer”). Any remaining net proceeds will be used for general corporate purposes.
J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are the joint book-running managers for the offering.
This news release is neither an offer to sell nor a solicitation of an offer to buy any securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful. Any offers of the Notes will be made exclusively by means of a prospectus and prospectus supplement.
Copies of the prospectus and preliminary prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended, may be obtained from J.P. Morgan Securities LLC, 383 Madison Avenue, New York, NY, 10179, Attention: Investment Grade Syndicate Desk, 3rd Floor, telephone collect at 1-212-834-4533; or from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, New York, NY 10014, by telephone (toll‑free) at (866) 718-1649; or from the SEC website at www.sec.gov.
The terms and conditions of the Tender Offer are described in an Offer to Purchase, dated November 6, 2014 (the “Offer to Purchase”), and a related Letter of Transmittal (the “Letter of Transmittal”), which have been sent to holders of the applicable debt securities. This news release is not an offer to purchase, a solicitation of an offer to sell, or a solicitation of consents with respect to any securities. The Tender Offer is made only by, and pursuant to, the terms of, the Offer to Purchase and the Letter of Transmittal. In addition, this news release does not constitute a notice of redemption of any debt securities under the optional redemption provisions of any of the respective indentures governing PPG’s outstanding debt securities.
PPG intends to use the net proceeds from the offering, together with cash on hand, to fund the purchase of its debt securities pursuant to its concurrent tender offer for any and all of certain series of its outstanding debt securities (the “Tender Offer”). Any remaining net proceeds will be used for general corporate purposes.
J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are the joint book-running managers for the offering.
This news release is neither an offer to sell nor a solicitation of an offer to buy any securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful. Any offers of the Notes will be made exclusively by means of a prospectus and prospectus supplement.
Copies of the prospectus and preliminary prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended, may be obtained from J.P. Morgan Securities LLC, 383 Madison Avenue, New York, NY, 10179, Attention: Investment Grade Syndicate Desk, 3rd Floor, telephone collect at 1-212-834-4533; or from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, New York, NY 10014, by telephone (toll‑free) at (866) 718-1649; or from the SEC website at www.sec.gov.
The terms and conditions of the Tender Offer are described in an Offer to Purchase, dated November 6, 2014 (the “Offer to Purchase”), and a related Letter of Transmittal (the “Letter of Transmittal”), which have been sent to holders of the applicable debt securities. This news release is not an offer to purchase, a solicitation of an offer to sell, or a solicitation of consents with respect to any securities. The Tender Offer is made only by, and pursuant to, the terms of, the Offer to Purchase and the Letter of Transmittal. In addition, this news release does not constitute a notice of redemption of any debt securities under the optional redemption provisions of any of the respective indentures governing PPG’s outstanding debt securities.