09.13.16
Axalta Coating Systems Ltd. has announced that its wholly owned subsidiary, Axalta Coating Systems Dutch Holding B B.V. (the “Issuer”), intends to offer €450.0 million in aggregate principal amount of euro-denominated senior unsecured notes (the “Notes”), subject to market conditions, to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and outside the United States in compliance with Regulation S under the Securities Act.
The Notes will be fully and unconditionally guaranteed by each of the Issuer’s existing and future restricted subsidiaries that is a borrower under or that guarantees the Issuer’s senior secured credit facility, subject to certain exceptions, but will not be guaranteed by the Company. The Issuer expects to use the net proceeds of this offering to redeem the €250.0 million outstanding aggregate principal amount of the 5.750% senior secured notes due 2021 of the Issuer and Axalta Coating Systems U.S. Holdings, Inc., an indirect, wholly owned subsidiary of the Company, to prepay a portion of the outstanding principal borrowings under its euro-denominated term loan credit facility and to pay related transaction costs and expenses.
The Notes will not be registered under the Securities Act, or any state securities laws, and may not be offered or sold in the United States absent registration, except pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws.
This press release shall not constitute an offer to sell nor a solicitation of an offer to buy any security, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
The Notes will be fully and unconditionally guaranteed by each of the Issuer’s existing and future restricted subsidiaries that is a borrower under or that guarantees the Issuer’s senior secured credit facility, subject to certain exceptions, but will not be guaranteed by the Company. The Issuer expects to use the net proceeds of this offering to redeem the €250.0 million outstanding aggregate principal amount of the 5.750% senior secured notes due 2021 of the Issuer and Axalta Coating Systems U.S. Holdings, Inc., an indirect, wholly owned subsidiary of the Company, to prepay a portion of the outstanding principal borrowings under its euro-denominated term loan credit facility and to pay related transaction costs and expenses.
The Notes will not be registered under the Securities Act, or any state securities laws, and may not be offered or sold in the United States absent registration, except pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws.
This press release shall not constitute an offer to sell nor a solicitation of an offer to buy any security, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.