By Daniel Webster, dWeb.News Publisher
SCOTTSDALE, Ariz.–(BUSINESS WIRE)–Carlisle Companies Incorporated (NYSE:CSL) (“Carlisle”) today announced that it has priced a public offering of $300 million in aggregate principal amount of its 0. 55% senior notes due September 1, 2023, but callable starting September 1, 2022, and $550 million in aggregate principal amount of its 2. 20% senior notes due March 1, 2032 (collectively, the “Notes”). Carlisle expects the offering to close on September 28, 2021, subject to customary closing conditions.
Carlisle intends to use the net proceeds from the offering to repay $650 million of outstanding indebtedness under its credit facility, which it incurred to fund a portion of the consideration paid in connection with its previously announced acquisition of Henry Company and pay acquisition-related fees and expenses, and for general corporate purposes.
J.P. Morgan Securities LLC, BofA Securities, Inc., and Wells Fargo Securities, LLC will be the joint book-running manager for the offering.
The press release is not an offer to buy or solicitation of an invitation to purchase the Notes. In any jurisdiction where such an offer, solicitation, or sale would be illegal, no offer, solicitation, or sale, will be made.
The offering was made under an automatic shelf registration statement that was filed with the Securities and Exchange Commission (“SEC”) on November 6, 2020. The offering of the Notes may be made only by means of a prospectus supplement and accompanying prospectus, copies of which may be obtained by visiting EDGAR on the SEC’s website at http://www.sec.gov or by contacting J.P. Morgan Securities LLC collect at 1-212-834-4533, BofA Securities, Inc. at 1-800-294-1322 or Wells Fargo Securities, LLC at 1-800-645-3751.
About Carlisle Companies Incorporated
Carlisle Companies Incorporated is a leading supplier of innovative Building Envelope products and energy-efficient solutions for customers creating sustainable buildings of the future. Carlisle, through its Construction Materials (CCM), and a range of other leading brands, delivers innovative, labor-saving and environmentally responsible solutions to customers around the globe through the Carlisle Experience. Carlisle products can reduce GHG emissions and energy consumption over the lifetime of buildings. They also increase resilience to the elements and help improve building resilience. Vision Carlisle’s strategic plan is driving superior shareholder returns. We also maintain a balanced capital deployment strategy, which includes investments in our businesses, strategic acquisitions and share repurchases. Our dividend increases are continued. Through its Interconnect Technologies business segments, Fluid Technologies (CFT), and Fluid Technologies (CIT), Carlisle is a leader in the supply of products for the Aerospace and Medical Technologies markets. Carlisle is headquartered in Scottsdale, Arizona and generated $4.0 billion in revenues in 2020.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements regarding the Notes offering and the use of proceeds therefrom. Forward-looking statements are generally expressed using words like “expect”, “foresee,”” “anticipate,”,”believe,”,”,”project,”,”should,”,”estimate,”,”will,” plans,” forecast, and similar expressions. It is possible that our future performance may differ materially from current expectations expressed in these forward-looking statements, due to a variety of factors such as: risks from the global coronavirus (COVID-19) pandemic including, for example, expectations regarding the impact of the COVID-19 on our businesses, including on customer demand, supply chains and distribution systems, production, our ability to maintain appropriate labor levels, our ability to ship products to our customers, our future results or our full-year financial outlook; increasing price and product/service competition by foreign and domestic competitors, including new entrants; technological developments and changes; the ability to continue to introduce competitive new products and services on a timely, cost-effective basis; our mix of products/services; increases in raw material costs that cannot be recovered in product pricing; domestic and foreign governmental and public policy changes including environmental and industry regulations; threats associated with and efforts to combat terrorism; protection and validity of patent and other intellectual property rights; the successful identification, completion and integration of our strategic acquisitions, including Henry Company; the successful completion of strategic dispositions; the cyclical nature of our businesses; and the outcome of pending and future litigation and governmental proceedings. These statements may also be affected by general market and financial conditions, growth rates, the state of the financial-credit markets, as well as general economic conditions, including fluctuations in interest rates and currency exchange rate movements. Any conflict in the international arena could adversely impact general market conditions as well as our future performance. We refer you to the documents we file from time to time with the SEC, such as our reports on Form 10-K, Form 10-Q and Form 8-K, for a discussion of these and other risks and uncertainties that could cause our actual results to differ materially from our current expectations and from the forward-looking statements contained in this press release. Forward-looking statements are subject to change without notice.
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