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Valspar’s New USD500 Million Debt Offering to Consumer Award Stories

Published on 2015-01-23. Author : SpecialChem

MINNEAPOLIS -- The Valspar Corporation (NYSE: VAL) announced that it has priced its planned underwritten public offering of $500 million aggregate principal amount of senior notes. The senior unsecured notes include:

• $250 million of 3.300% notes due 2025
• $250 million of 4.400% notes due 2045

The company intends to use the net proceeds from this offering for general corporate purposes including, but not limited to, the repayment of a portion of its commercial paper borrowings and the repayment at maturity of $150 million principal amount of 5.1% Senior Notes due August 2015.

Wells Fargo Securities, Bank of America Merrill Lynch and Goldman, Sachs & Co. are acting as joint book-running managers for the offering. The offering is being made pursuant to Valspar's shelf registration statement filed with the U.S. Securities and Exchange Commission (the SEC) and only by means of a prospectus supplement and accompanying prospectus. A copy of the prospectus supplement and accompanying prospectus relating to the offering may be obtained on the SEC's website at www.sec.gov.

This press release is not an offer to sell or a solicitation of an offer to buy any of the senior unsecured notes in any 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.

About Valspar


The Valspar Corporation is one of the global leaders in the paint and coatings industry with over 10,500 employees in more than 25 countries. Since 1806, Valspar has been dedicated to bringing customers the latest innovations, the finest quality and the best customer service in the coatings industry. 

Source: Valspar



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