Cimpress Completes Offering of $525 Million of Senior Notes Due 2032
Cimpress plc (Nasdaq: CMPR) has successfully completed its private offering of $525 million in aggregate principal amount of 7.375% senior notes due 2032. The notes will pay interest semi-annually. Concurrently, Cimpress amended its existing credit agreement to extend the maturity of its revolving credit facility and adjust the applicable interest rate.
The net proceeds from the offering, along with cash on hand, were used to redeem all of Cimpress's 7.0% Senior Notes due 2026 and cover all fees and expenses related to the offering and credit agreement amendment. The notes have not been registered under the Securities Act of 1933 and are subject to specific offering restrictions within and outside the United States.
Cimpress plc (Nasdaq: CMPR) ha completato con successo la sua offerta privata di 525 milioni di dollari in capitale principale totale di note senior al 7,375% con scadenza nel 2032. Le note pagheranno interessi semestralmente. Contestualmente, Cimpress ha modificato il suo attuale accordo di credito per prorogare la scadenza della sua linea di credito revolving e adeguare il tasso di interesse applicabile.
Le entrate nette dell'offerta, insieme ai fondi disponibili, sono state utilizzate per riscattare tutte le note senior al 7,0% con scadenza nel 2026 di Cimpress e coprire tutte le spese e costi relativi all'offerta e alla modifica dell'accordo di credito. Le note non sono state registrate ai sensi del Securities Act del 1933 e sono soggette a restrizioni specifiche di offerta sia all'interno che all'esterno degli Stati Uniti.
Cimpress plc (Nasdaq: CMPR) ha completado con éxito su oferta privada de 525 millones de dólares en importe principal agregado de bonos senior al 7.375% que vencen en 2032. Los bonos pagarán intereses de manera semestral. Al mismo tiempo, Cimpress modificó su acuerdo de crédito existente para extender el vencimiento de su línea de crédito revolvente y ajustar la tasa de interés aplicable.
Los fondos netos de la oferta, junto con el efectivo disponible, se utilizaron para redimir todos los bonos senior al 7,0% que vencen en 2026 de Cimpress y cubrir todas las tarifas y gastos relacionados con la oferta y la modificación del acuerdo de crédito. Los bonos no han sido registrados bajo la Ley de Valores de 1933 y están sujetos a restricciones específicas de oferta dentro y fuera de los Estados Unidos.
Cimpress plc (Nasdaq: CMPR)는 5억 2500만 달러의 총 원금 규모의 7.375% 만기 2032년의 선급채권에 대한 비공식 입찰을 성공적으로 완료했습니다. 이 채권은 반기마다 이자를 지급합니다. 동시에 Cimpress는 기존 신용 계약을 수정하여 회전 신용 한도의 만기를 연장하고 적용되는 이자율을 조정했습니다.
이번 공모에서 발생한 순수익과 현금을 사용하여 Cimpress의 7.0% 만기 2026년의 선급채권을 모두 상환하고, 공모 및 신용 계약 수정과 관련된 수수료 및 비용을 모두 충당했습니다. 이 채권은 1933년 증권법에 따라 등록되지 않았으며, 미국 내외에서 특정 공모 제한의 적용을 받습니다.
Cimpress plc (Nasdaq: CMPR) a réussi à compléter son offre privée de 525 millions de dollars en montant principal total de notes senior à 7,375% arrivant à échéance en 2032. Les notes verseront des intérêts semestriels. Parallèlement, Cimpress a modifié son accord de crédit existant pour prolonger l'échéance de sa ligne de crédit renouvelable et ajuster le taux d'intérêt applicable.
Les produits nets de l'offre, ainsi que la trésorerie disponible, ont été utilisés pour racheter l'ensemble des notes senior à 7,0% arrivant à échéance en 2026 de Cimpress et couvrir tous les frais et dépenses liés à l'offre et à la modification de l'accord de crédit. Les notes n'ont pas été enregistrées en vertu du Securities Act de 1933 et sont soumises à des restrictions spécifiques d'offre à l'intérieur et à l'extérieur des États-Unis.
Cimpress plc (Nasdaq: CMPR) hat erfolgreich sein privates Angebot über 525 Millionen Dollar an Gesamtnennbeträgen von 7,375% Senior Notes, die 2032 fällig sind, abgeschlossen. Die Notizen zahlen halbjährlich Zinsen. Gleichzeitig hat Cimpress seinen bestehenden Kreditvertrag geändert, um die Laufzeit seiner revolvierenden Kreditfazilität zu verlängern und den anwendbaren Zinssatz anzupassen.
Die Nettoerlöse aus dem Angebot wurden zusammen mit vorhandenen Barmitteln verwendet, um alle 7,0% Senior Notes, die 2026 fällig sind, von Cimpress einzulösen und alle Gebühren und Ausgaben im Zusammenhang mit dem Angebot und der Änderung des Kreditvertrags zu decken. Die Notizen wurden nicht gemäß dem Securities Act von 1933 registriert und unterliegen spezifischen Angebotsbeschränkungen innerhalb und außerhalb der Vereinigten Staaten.
- Successful completion of $525 million senior notes offering
- Extended maturity of revolving credit facility
- Refinancing of existing 7.0% Senior Notes due 2026
- Higher interest rate on new notes (7.375%) compared to previous notes (7.0%)
- Increased debt load with $525 million in new senior notes
Insights
Cimpress's completion of a
The company is using the proceeds to redeem all of its
However, investors should note that the new notes carry a slightly higher interest rate of
Overall, this refinancing appears to be a neutral to slightly positive move for Cimpress, as it addresses near-term debt maturities and potentially improves their debt structure, albeit at a marginally higher interest rate.
DUNDALK,
Concurrently with the consummation of the Offering, we amended our existing credit agreement to, among other things, extend the maturity of our revolving credit facility and amend the interest rate applicable to any loans under our revolving credit facility (the “Credit Agreement Amendment”).
We used the net proceeds of the Offering, together with cash on hand, to fund the redemption of all of our
The notes have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in
This press release is neither an offer to sell nor the solicitation of an offer to buy the notes or any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.
Some of the statements in this press release are “forward-looking” and are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. These “forward-looking” statements include statements relating to, among other things, the Offering, the Credit Agreement Amendment and the intended use of proceeds of the Offering. These statements involve risks and uncertainties that may cause results to differ materially from the statements set forth in this press release, including market conditions and the risks and uncertainties referenced from time to time in the Company’s filings with the Securities and Exchange Commission. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to such statements to reflect any change in its expectations with regard thereto or any changes in the events, conditions or circumstances on which any such statement is based.
About Cimpress
Cimpress plc (Nasdaq: CMPR) invests in and builds customer-focused, entrepreneurial, print mass-customization businesses for the long term. Mass customization is a competitive strategy which seeks to produce goods and services to meet individual customer needs with near mass production efficiency. Cimpress businesses include BuildASign, Drukwerkdeal, Exaprint, National Pen, Packstyle, Pixartprinting, Printi, VistaPrint, and WIRmachenDRUCK.
Cimpress and the Cimpress logo are trademarks of Cimpress plc or its subsidiaries. All other brand and product names appearing on this announcement may be trademarks or registered trademarks of their respective holders.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240926770412/en/
Investor Relations:
Meredith Burns
ir@cimpress.com
+1.781.652.6480
Media Relations:
Sara Litwiller
mediarelations@cimpress.com
Source: Cimpress plc
FAQ
What is the interest rate and maturity of Cimpress's new senior notes (CMPR)?
How much did Cimpress (CMPR) raise in its recent senior notes offering?
What did Cimpress (CMPR) use the proceeds from its senior notes offering for?
Has Cimpress (CMPR) registered its new senior notes under the Securities Act?
