Axalta announced that its indirect, wholly-owned subsidiary, Axalta Coating Systems, LLC, intends to offer $600 million in aggregate principal amount of senior unsecured notes 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, subject to market and other conditions.

 

The Notes are expected to be fully and unconditionally guaranteed by the company and each of the company’s existing restricted subsidiaries that guarantee its credit facilities (other than the Issuer), subject to certain exceptions. 

 

The issuer expects to use the net proceeds of this offering, together with cash on hand, to redeem the $500 million aggregate principal amount of its 4.875% Senior Notes due 2024 and €335 million aggregate principal amount of its 4.25% Senior Notes due 2024 and to pay related transaction costs and expenses.

 

The Notes and related guarantees 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 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.

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