PPG Commences Offering of Euro-Denominated Senior Notes
By Business Wire News
By Business Wire News
PPG Industries (NYSE:PPG) announced today that it has commenced a public offering of two series of euro-denominated senior notes (collectively, the “Notes”). The exact terms, including the principal amount of the Notes and timing of the offering, will depend on market conditions and other factors. The offering will be made pursuant to PPG’s effective shelf registration statement filed on Form S-3 with the U.S. Securities and Exchange Commission (the “SEC”).
PPG Industries plans to use the net proceeds of the offering for general corporate purposes.
The joint book-running managers for the offering are BNP Paribas; Deutsche Bank AG, London Branch; HSBC Bank plc; J.P. Morgan Securities plc; and Mitsubishi UFJ Securities International plc.
This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Any offers of the Notes will be made exclusively by means of a prospectus and preliminary prospectus supplement.
Copies of the prospectus and preliminary prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended, are available at no charge by visiting EDGAR on the SEC website at www.sec.gov. Alternately, PPG Industries, the underwriters or any dealer participating in this offering will arrange to send you the prospectus if you request it by: calling BNP Paribas collect at 44-20-7595-8222; calling Deutsche Bank AG, London Branch, collect at 44-20-7545-2761; calling HSBC Bank plc collect at 1-866-811-8049; calling J.P. Morgan Securities plc collect at 44-20-7134-2468; or calling Mitsubishi UFJ Securities International plc collect at 44-20-7577-2206.
PPG: BRINGING INNOVATION TO THE SURFACE.™
PPG Industries’ vision is to be the world’s leading coatings company by consistently delivering high-quality, innovative and sustainable solutions that customers trust to protect and beautify their products and surroundings. Through leadership in innovation, sustainability and color, PPG provides added value to customers in construction, consumer products, industrial and transportation markets and aftermarkets to enhance more surfaces in more ways than does any other company. Founded in 1883, PPG has global headquarters in Pittsburgh and operates in nearly 70 countries around the world. Reported net sales in 2014 were $15.4 billion. PPG shares are traded on the New York Stock Exchange (symbol:PPG).
Statements in this news release relating to matters that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 reflecting the company’s current view with respect to future events or objectives and financial or operational performance or results. These matters involve risks and uncertainties as discussed in PPG Industries’ periodic reports on Form 10-K and Form 10-Q, and its current reports on Form 8-K, filed with the SEC. Accordingly, many factors could cause actual results to differ materially from the company’s forward-looking statements.
Among these factors are PPG’s ability to complete the offering, global economic conditions, increasing price and product competition by foreign and domestic competitors, fluctuations in cost and availability of raw materials, the ability to maintain favorable supplier relationships and arrangements, the realization of anticipated cost savings from restructuring initiatives, difficulties in integrating acquired businesses and achieving expected synergies therefrom, the ability to penetrate existing, developing and/or emerging foreign and domestic markets, economic and political conditions in international markets, foreign exchange rates and fluctuations in such rates, fluctuations in tax rates, the impact of future legislation, the impact of environmental regulations, unexpected business disruptions, the unpredictability of existing and possible future litigation, including litigation that could result if the asbestos settlement discussed in PPG’s filings with the SEC does not become effective, and the company’s ability to integrate the Comex business acquisition and to achieve anticipated synergies. However, it is not possible to predict or identify all such factors.
Consequently, while the list of factors presented here is considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements.
Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material adverse effect on the company’s consolidated financial condition, results of operations or liquidity.
Forward-looking statements speak only as of the date of their initial issuance, and PPG does not undertake any obligation to update or revise publicly any forward-looking statement, whether as a result of new information, future events or otherwise, except as otherwise required by applicable law.
Bringing innovation to the surface is a trademark of PPG Industries Ohio, Inc.