Vertiv Group Corporation Announces Intention to Offer New Senior Secured Notes
Vertiv Holdings Co (NYSE: VRT) announced a private placement offering of $850 million in Senior Secured Notes due 2028. Proceeds will finance the upcoming acquisition of E&I Engineering Ireland Limited and Powerbar Gulf LLC, alongside covering related fees. The Notes will not be registered under the Securities Act and will be offered only to qualified institutional buyers. They will be secured by liens on certain assets of the Issuer and its subsidiaries. Vertiv continues to expand its critical digital infrastructure solutions globally, with a workforce of approximately 20,000 across over 130 countries.
- Offering $850 million in Senior Secured Notes, potentially strengthening financial position.
- Funds earmarked for acquisition of E&I Engineering, expanding market presence and capabilities.
- Notes will increase overall debt load, impacting future financial flexibility.
- The offering is private, restricting access to institutional investors, may limit liquidity.
The Notes have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws. The Notes may not be offered or sold within
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful.
About
Vertiv (NYSE: VRT) brings together hardware, software, analytics and ongoing services to ensure its customers’ vital applications run continuously, perform optimally and grow with their business needs. Vertiv solves the most important challenges facing today’s data centers, communication networks and commercial and industrial facilities with a portfolio of power, cooling and IT infrastructure solutions and services that extends from the cloud to the edge of the network. Headquartered in
Category:
About the
Cautionary Note Concerning Forward-Looking Statements
This news release, and other statements that Vertiv may make in connection therewith, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act. This includes, without limitation, statements regarding the financial position, capital structure, indebtedness, business strategy and plans and objectives of Vertiv management for future operations, as well as statements regarding growth, anticipated demand for our products and services and our business prospects during 2021, as well as expected cost savings and synergies associated with the Acquisition. These statements constitute projections, forecasts and forward-looking statements, and are not guarantees of performance. Vertiv cautions that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “strive,” “would” and similar expressions may identify forward-looking statements. Vertiv undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
The forward-looking statements contained or incorporated by reference in this presentation are based on current expectations and beliefs concerning future developments and their potential effects on Vertiv. There can be no assurance that future developments affecting Vertiv will be those that Vertiv has anticipated. Should one or more of these risks or uncertainties materialize, or should any of the assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Vertiv has previously disclosed risk factors in its
View source version on businesswire.com: https://www.businesswire.com/news/home/20211013005626/en/
For investor inquiries, please contact:
Vice President, Global Treasury & Investor Relations
Vertiv
T +1 614-841-6776
E: lynne.maxeiner@vertiv.com
For media inquiries, please contact:
FleishmanHillard for Vertiv
T +1 336-908-7759
E: scott.deitz@fleishman.com
Source:
FAQ
What is the purpose of Vertiv's recent Senior Secured Notes offering?
When are the Senior Secured Notes due?
Who are the investors eligible to buy the Senior Secured Notes?
What will the Senior Secured Notes be secured by?