H.B. Fuller Company Launches Offering of Senior Notes

Rhea-AI Summary

H.B. Fuller Company (NYSE: FUL) announced an offering of senior notes to repay part of its outstanding term loan and for general corporate purposes. The offering is being managed by J.P. Morgan Securities, Morgan Stanley, and U.S. Bancorp Investments. This follows a prior registration statement filed with the SEC on January 24, 2020. Investors are encouraged to review the accompanying prospectus for comprehensive information. This announcement does not constitute an offer to sell the notes in jurisdictions where it would be unlawful.

Positive

• Intended use of proceeds includes repayment of term loan, potentially strengthening balance sheet.
• Offering managed by reputable financial institutions.

Negative

• Issuance of new senior notes may lead to shareholder dilution.
• Forward-looking statements indicate uncertainties about the completion of the offering.

ST. PAUL, Minn., Oct. 6, 2020 /PRNewswire/ -- H.B. Fuller Company (NYSE: FUL) today announced that it has commenced an offering of senior notes (the "Notes").

H.B. Fuller intends to use the net proceeds from the Notes to repay a portion of the outstanding term loan under its secured credit facility and for other general corporate purposes.

The joint book-running managers for the offering are J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and U.S. Bancorp Investments, Inc.

The offering is being made pursuant to an effective registration statement on Form S-3 (Registration No. 333-236084) (including a prospectus) filed with the U.S. Securities and Exchange Commission (the "SEC") on January 24, 2020. Prospective investors should read the prospectus forming a part of that registration statement, the prospectus supplement related to the offering, and the other documents that the company has filed with the SEC for more complete information about the company and this offering. These documents are available at no charge by visiting EDGAR on the SEC website at www.sec.gov. Alternately, H.B. Fuller, the underwriters or any dealer participating in this offering will arrange to send you the prospectus if you request it by calling or e-mailing J.P. Morgan Securities LLC toll-free at 1-866-803-9204, Morgan Stanley & Co. LLC toll-free at 1-866-718-1649 or U.S. Bancorp Investments, Inc. toll-free at 1-877-558-2607.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy the Notes, nor shall there be any offer, solicitation or sale of the Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

Safe Harbor for Forward-Looking Statements:
Certain statements in this document may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including those regarding the pending offering of the Notes and the anticipated use of proceeds. These statements are subject to various risks and uncertainties, including but not limited to the following: whether the offering of Notes will be completed, whether the company will be able to satisfy the conditions required to close the sale of the Notes, the fact that the company's management will have broad discretion in the use of the proceeds from any sale of the Notes, and other risks detailed from time to time in the company's filings with the SEC. All forward-looking information represents management's best judgment as of this date based on information currently available that in the future may prove to be inaccurate.

Director, Assistant Treasurer
H.B. Fuller
Maximillian Marcy
(651) 236-5062

Vice President, Investor Relations
H.B. Fuller
Barbara Doyle
(651) 236-5023

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SOURCE H.B. Fuller Company

FAQ

What is the purpose of H.B. Fuller's senior notes offering?

H.B. Fuller intends to use the net proceeds to repay a portion of its outstanding term loan and for other general corporate purposes.

Who are the joint managers for the senior notes offering?

The offering is managed by J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, and U.S. Bancorp Investments, Inc.

When was the registration statement for the offering filed?

The registration statement was filed with the SEC on January 24, 2020.

What risks are associated with H.B. Fuller's senior notes offering?

There are risks regarding the completion of the offering and uncertainties about the company's ability to close the sale of the notes.

What is the stock symbol for H.B. Fuller?

H.B. Fuller's stock symbol is FUL.