CLEVELAND, April 1, 2015 /PRNewswire/ -- Lincoln Electric
Holdings, Inc. (the "Company") (Nasdaq: LECO) announced today that
they intend to offer for sale to eligible purchasers in a private
placement exempt from the registration requirements of the
Securities Act of 1933, as amended (the "Securities Act"),
$350 million in aggregate principal
amount of senior unsecured notes. These notes will be offered
and sold in four tranches with the following fixed interest rates
and maturities:
Description
|
Amount
|
Maturity
|
3.15% Series A
Notes
|
$100
million
|
Due August 20,
2025
|
3.35% Series B
Notes
|
$100
million
|
Due August 20,
2030
|
3.61% Series C
Notes
|
$50
million
|
Due April 1,
2035
|
4.02% Series D
Notes
|
$100
million
|
Due April 1,
2045
|
The Company expects to complete the funding and the issuance of
the Series C Notes and the Series D Notes on April 1, 2015. The Series A Notes and the
Series B Notes are expected to be funded and issued on August 20, 2015.
The Company intends to use the proceeds from the private
placement of the Series A Notes, the Series B Notes, the Series C
Notes and the Series D Notes for general corporate purposes.
This press release shall not constitute an offer to sell, or the
solicitation of an offer to buy, any of these securities, nor shall
there be any sale of these securities in any state in which such
offer, solicitation, or sale would be unlawful prior to
registration or qualification under the securities laws of such
states.
The Notes have not been and will not be registered under the
Securities Act, or the securities laws of any state or other
jurisdiction, and may not be offered or sold in the United States without registration or an
applicable exemption from the Securities Act and applicable state
securities laws.
About Lincoln Electric
Lincoln Electric is the world leader in the design, development
and manufacture of arc welding products, robotic arc welding
systems, plasma and oxy-fuel cutting equipment and has a leading
global position in the brazing and soldering alloys market.
Headquartered in Cleveland, Ohio,
Lincoln has 47 manufacturing locations, including operations and
joint ventures in 19 countries and a worldwide network of
distributors and sales offices covering more than 160
countries. For more information about Lincoln Electric and
its products and services, visit the Company's website at
http://www.lincolnelectric.com.
Forward-Looking Statements
This press release may contain forward-looking statements within
the meaning of the federal securities laws, which are based on
current expectations, forecasts and assumptions that involve risks
and uncertainties that could cause actual outcomes and results to
differ materially. Forward-looking statements relate to
expectations, beliefs, projections, future plans and strategies,
anticipated events or trends and similar expressions concerning
matters that are not historical facts. In some cases, you can
identify forward-looking statements by the use of forward-looking
terminology such as "may," "will," "should," "expects," "intends,"
"plans," "anticipates," "believes," "estimates," "predicts," or
"potential" or the negative of these words and phrases or similar
words or phrases which are predictions of or indicate future events
or trends and which do not relate solely to historical
matters. While forward-looking statements reflect the
Company's good faith beliefs, assumptions and expectations, they
are not guarantees of future performance. For a further
discussion of these and other factors that could cause the
Company's future results to differ materially from any
forward-looking statements, see the section entitled "Risk Factors"
in the Company's annual report on Form 10-K filed on February 20, 2015 and other risks described in
documents subsequently filed by the Company from time to time with
the Securities and Exchange Commission. The Company disclaims
any obligation to publicly update or revise any forward-looking
statement to reflect changes in underlying assumptions or factors,
of new information, data or methods, future events or other
changes.
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SOURCE Lincoln Electric Holdings, Inc.