MEDINA, Ohio, May 26, 2015 /PRNewswire/ -- RPM
International Inc. (NYSE: RPM) announced today that it agreed to
sell $250 million aggregate principal
amount of its 5.250% Notes due June 1,
2045 (the "Notes") pursuant to the provisions of an
underwriting agreement dated May 26,
2015 among RPM and Merrill Lynch, Pierce, Fenner & Smith
Incorporated and Santander Investment Securities Inc. as
representatives of the underwriters. The company will pay
interest on the Notes semi-annually on June
1st and December 1st of each
year, beginning on December 1,
2015. The sale of the Notes is expected to close May 29, 2015.
The expected net proceeds will be approximately $245.5 million after deducting the underwriting
discount and RPM's expenses related to the offering. RPM
intends to use the net proceeds from the offering of the Notes to
repay a portion of the outstanding borrowings under its revolving
credit facility. The outstanding borrowings under RPM's
revolving credit facility were made to pay a portion of RPM's
initial payment to the trust established under the bankruptcy plan
for Specialty Products Holding Corp. and related entities, and to
provide working capital and fund acquisitions over the past twelve
months.
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 ("SEC").
The Notes will be offered pursuant to an effective registration
statement 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 you the
prospectus if you request it by calling or e-mailing Merrill Lynch,
Pierce, Fenner & Smith Incorporated at 1-800-294-1322 or
dg.prospectus_requests@baml.com or by calling Santander Investment
Securities Inc. at 1-855-403-3636.
About RPM
RPM International Inc. owns subsidiaries that are world leaders
in specialty coatings, sealants, building materials and related
services for both industrial and consumer markets. RPM's industrial
products include roofing systems, sealants, corrosion control
coatings, flooring coatings and specialty chemicals. Industrial
companies include Stonhard, Tremco, illbruck, Carboline, Flowcrete,
Day-Glo, Dryvit and Euclid Chemical. 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.
For more information, contact Barry M.
Slifstein, vice president - investor relations and planning,
at 330-273-5090 or bslifstein@rpminc.com.
This press release contains "forward-looking statements"
relating to our business. These forward-looking statements, or
other statements made by us, are made based on our expectations and
beliefs concerning future events impacting us, and are subject to
uncertainties and factors (including those specified below) which
are difficult to predict and, in many instances, are beyond our
control. As a result, our actual results could differ materially
from those expressed in or implied by any such forward-looking
statements. These uncertainties and factors include (a) global
markets and general economic conditions, including uncertainties
surrounding the volatility in financial markets, the availability
of capital and the effect of changes in interest rates, and the
viability of banks and other financial institutions; (b) the
prices, supply and capacity of raw materials, including assorted
pigments, resins, solvents and other natural gas- and oil-based
materials; packaging, including plastic containers; and
transportation services, including fuel surcharges; (c) continued
growth in demand for our products; (d) legal, environmental and
litigation risks inherent in our construction and chemicals
businesses and risks related to the adequacy of our insurance
coverage for such matters; (e) the effect of changes in interest
rates; (f) the effect of fluctuations in currency exchange rates
upon our foreign operations; (g) the effect of non-currency risks
of investing in and conducting operations in foreign countries,
including those relating to domestic and international political,
social, economic and regulatory factors; (h) risks and
uncertainties associated with our ongoing acquisition and
divestiture activities; (i) risks related to the adequacy of our
contingent liability reserves; and (j) other risks detailed
in our filings with the Securities and Exchange Commission,
including the risk factors set forth in our Annual Report on Form
10-K for the year ended May 31, 2014, as the same may be
updated from time to time. We do not undertake any obligation to
publicly update or revise any forward-looking statements to reflect
future events, information or circumstances that arise after the
date of this release.
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SOURCE RPM International Inc.