Diversey Announces Pricing of Senior Notes Offering
Diversey Holdings, Ltd. (NASDAQ: DSEY) announced a private placement of $500 million in 4.625% Senior Notes due 2029. The offering is set to close on or around September 29, 2021. Proceeds will be used to repay existing debt and for general corporate purposes. Interest will be paid semi-annually starting April 1, 2022, with maturity on October 1, 2029. The notes are targeted towards qualified institutional buyers and are not registered under the Securities Act. This press release serves informational purposes and does not constitute a sale or solicitation.
- Private placement of $500 million in Senior Notes may improve capital structure.
- Interest rate of 4.625% is competitive for debt financing.
- Proceeds aimed at debt repayment can enhance financial stability.
- Debt issuance could increase overall leverage, raising financial risk.
FORT MILL, S.C., Sept. 15, 2021 (GLOBE NEWSWIRE) -- Diversey Holdings, Ltd. (NASDAQ: DSEY), a leading provider of hygiene, infection prevention and cleaning solutions, today announced that its indirect, wholly-owned subsidiary, Diamond (BC) B.V. (the “Company”) has priced the private placement of
The Notes will bear interest at a rate of
The new senior notes will be guaranteed by BCPE Diamond Netherlands TopCo B.V., a private limited liability company incorporated under the laws of the Netherlands, and the Company’s direct parent, and each of the existing and future restricted subsidiaries of the Company to the extent such subsidiary guarantees the Company’s new senior secured credit facilities (other than those subsidiaries organized in Italy).
The Notes are being offered only to persons reasonably believed to be “qualified institutional buyers” in reliance on the exemption from registration pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and to persons outside of the United States in compliance with Regulation S under the Securities Act. The Notes and the related guarantees 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 registration requirements of the Securities Act and applicable state securities or blue sky laws and foreign securities laws.
This press release is for informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, any security. No offer, solicitation, or sale will be made in any jurisdiction in which such an offer, solicitation, or sale would be unlawful. Any offers of the notes will be made only by means of a private offering memorandum.
MiFID II professionals/ECPs only/No PRIIPs KID. Manufacturer target market (MiFID II product governance) is eligible counterparties and professional clients only (all distribution channels). No PRIIPs Regulation key information document (KID) has been prepared as the notes are not available to retail investors in the EEA or the UK.
About Diversey
Diversey’s mission is to protect and care for people through leading hygiene, infection prevention, and cleaning solutions. We develop and deliver innovative products, services, and technologies that save lives and protect our environment. Over the course of 95 years, the Diversey brand has become synonymous with product quality, service, and innovation.
Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect Diversey’s current intentions, expectations or beliefs regarding the Notes offering and the anticipated use of the net proceeds therefrom. These statements may be preceded by, followed by or include the words “aim,” “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “likely,” “outlook,” “plan,” “potential,” “project,” “projection,” “seek,” “can,” “could,” “may,” “should,” “would,” “will,” the negatives thereof and other words and terms of similar meaning. Forward-looking statements include all statements that are not historical facts. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. There is no assurance that any forward-looking statements will materialize. You are cautioned not to place undue reliance on forward-looking statements, which reflect expectations only as of this date. Diversey does not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments, or otherwise, except as required by law.
Diversey Holdings, Ltd.
Investor Contact:
Grant Graver
ir@diversey.com
FAQ
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