The sale of the Notes is expected to close December 20, 2017, and is pursuant to the provisions of an underwriting agreement dated December 6, 2017, among RPM and Merrill Lynch, Pierce, Fenner & Smith Incorporated and Wells Fargo Securities, LLC as representatives of the underwriters.
RPM will pay interest on the Notes semiannually on January 15 and July 15 of each year, beginning on July 15, 2018.
The expected net proceeds from the offering of the Notes will be approximately $296.2 million, after deducting the underwriting discount and RPM's expenses related to the offering. RPM intends to use the net proceeds to repay, redeem or refinance $250.0 million in principal amount of unsecured senior notes due February 15, 2018, which bear interest at 6.50%, together with accrued and unpaid interest thereon, and for general corporate purposes.
This press release shall not constitute an offer to sell, nor the solicitation of an offer to buy, any of the securities, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale is not permitted. The offering of the Notes was registered under the Securities Act of 1933, as amended, and is being made pursuant to RPM's Registration Statement on Form S-3 filed by RPM with the Securities and Exchange Commission.
The Notes will be offered pursuant to an effective registration statement previously filed with the SEC. Before investing, investors should read the prospectus in the registration statement and applicable prospectus supplement and other documents the company has filed or will file with the SEC for more complete information about the company and the offering. These documents may be obtained for free by visiting EDGAR on the SEC website. Alternatively, RPM, or any underwriter or any dealer participating in the offering, will arrange to send interested parties copies of the prospectus supplement and accompanying prospectus if requested by contacting Merrill Lynch, Pierce, Fenner & Smith Incorporated at 200 North College Street, NC1-004-03-43, Charlotte, NC 28255-0001, Attn: Prospectus Department, toll free at 1-800-294-1322 or by e-mail at firstname.lastname@example.org or by contacting Wells Fargo Securities, LLC at 608 2nd Avenue South, Suite 1000, Minneapolis, MN 55402, Attn: WFS Customer Service, toll free at 1-800-645-3751 or by e-mail at email@example.com.
RPM International Inc. owns subsidiaries that are world leaders in specialty coatings, sealants, building materials and related services across three segments. RPM’s industrial products include roofing systems, sealants, corrosion control coatings, flooring coatings and other construction chemicals. Industrial companies include Stonhard, Tremco, illbruck, Carboline, Flowcrete, Euclid Chemical and RPM Belgium Vandex. RPM's consumer products are used by professionals and do-it-yourselfers for home maintenance and improvement and by hobbyists. Consumer brands include Rust-Oleum, DAP, Zinsser, Varathane and Testors. RPM’s specialty products include industrial cleaners, colorants, exterior finishes, specialty OEM coatings, edible coatings, restoration services equipment and specialty glazes for the pharmaceutical and food industries. Specialty segment companies include Day-Glo, Dryvit, RPM Wood Finishes, Mantrose-Haeuser, Legend Brands, Kop-Coat and TCI. Additional details can be found at www.rpminc.com and by following RPM on Twitter at www.twitter.com/RPMintl.
For more information, contact Barry M. Slifstein, vice president – investor relations, at 330-273-5090 or firstname.lastname@example.org.