TriMas Announces Pricing of $300 Million of Debt Offering
September 13 2017 - 7:04PM
TriMas (NASDAQ:TRS) today announced that it has priced its offering
of $300 million in aggregate principal of senior unsecured notes
due 2025 (the “Notes”) in an offering exempt from the registration
requirements of the Securities Act of 1933, as amended (the
“Securities Act”). The Notes will bear interest at an annual rate
of 4.875%. The offering of the Notes is expected to close on
September 20, 2017, subject to the satisfaction of customary
closing conditions.
TriMas intends to use the net proceeds from the
Notes offering to repay all outstanding obligations (including
accrued and unpaid interest thereon) of its Term Loan A facility
due 2020 under TriMas’ amended and restated credit agreement, to
repay a portion of outstanding obligations (including accrued and
unpaid interest thereon) under TriMas’ accounts receivable
facility, and to pay fees and expenses related to the Notes
offering and repayment of such debt.
The Notes are being offered only to qualified
institutional buyers in reliance on Rule 144A under the Securities
Act and to certain persons outside of the United States pursuant to
Regulation S under the Securities Act. The Notes to be offered have
not been registered under the Securities Act or any state
securities laws and may not be offered or sold in the United States
absent registration or an applicable exemption from registration
requirements.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy such Notes nor shall
it constitute an offer, solicitation or sale in any jurisdiction in
which such offer, solicitation or sale is unlawful.
Notice Regarding Forward-Looking
StatementsAny "forward-looking" statements, within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934, contained herein,
including those relating to the Company’s business, financial
condition or future results, involve risks and uncertainties with
respect to, including, but not limited to: the Company’s ability to
successfully complete the offering of the Notes; general economic
and currency conditions; material and energy costs; risks and
uncertainties associated with intangible assets, including goodwill
or other intangible asset impairment charges; competitive factors;
future trends; the Company’s ability to realize its business
strategies; the Company’s ability to identify attractive
acquisition candidates, successfully integrate acquired operations
or realize the intended benefits of such acquisitions; the
performance of subcontractors and suppliers; supply constraints;
market demand; technology factors; intellectual property factors;
litigation; government and regulatory actions; the Company’s
leverage; liabilities imposed by debt instruments; labor disputes;
changes to fiscal and tax policies; contingent liabilities relating
to acquisition activities; information technology factors; the
potential impact of Brexit; tax considerations relating to the
Cequent spin-off; the Company’s future prospects; and other risks
that are detailed in the Company's Annual Report on Form 10-K for
the fiscal year ended December 31, 2016 and Current Report on Form
8-K filed on September 11, 2017. These risks and uncertainties may
cause actual results to differ materially from those indicated by
the forward-looking statements. All forward-looking statements made
herein are based on information currently available, and the
Company assumes no obligation to update any forward-looking
statements.
About TriMasTriMas is a
diversified industrial manufacturer of products for customers in
the consumer products, aerospace, industrial, petrochemical,
refinery and oil & gas end markets with approximately 4,000
dedicated employees in 13 countries. We provide customers with a
wide range of innovative and quality product solutions through our
market-leading businesses, which are reported in four segments:
Packaging, Aerospace, Engineered Components and Energy. The TriMas
family of businesses has strong brand names in the markets served,
and operates under a common set of values and strategic priorities
under the TriMas Business Model. TriMas is publicly traded on the
NASDAQ under the ticker symbol “TRS,” and is headquartered in
Bloomfield Hills, Michigan. For more information, please visit
www.trimascorp.com.
CONTACT: Sherry
LauderbackVP, Investor Relations & Communications(248)
631-5506sherrylauderback@trimascorp.com
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