CLARIOS ANNOUNCES LAUNCH OF PRIVATE OFFERING OF NOTES
MILWAUKEE, April 19, 2023 /PRNewswire/ -- Clarios Global LP ("Clarios" or the "Company") announced today that it and Clarios US Finance Company, Inc. (the "Co-Issuer" and, together with the Company, the "Issuers"), have launched an offering of $500 million in aggregate principal amount of senior secured notes due 2028 (the "Notes").
- MILWAUKEE, April 19, 2023 /PRNewswire/ -- Clarios Global LP ("Clarios" or the "Company") announced today that it and Clarios US Finance Company, Inc. (the "Co-Issuer" and, together with the Company, the "Issuers"), have launched an offering of $500 million in aggregate principal amount of senior secured notes due 2028 (the "Notes").
- In connection with the issuance of the Notes, the Company intends to borrow up to $1,000 million under an incremental amendment (the "New Term Loan Facility") to its existing term loan facility (the "Existing Term Loan Facility").
- The gross proceeds from the offering of the Notes, together with the borrowings under the New Term Loan Facility, are expected to be used to repay $1,500 million of borrowings under the Existing Term Loan Facility.
- The Notes will be guaranteed by Clarios International LP, which owns all of the equity interests of the Issuers, and each of the Company's subsidiaries that are guarantors under the Company's credit agreements.