PPG Prices Offering of Euro-Denominated Senior Notes
PITTSBURGH–(BUSINESS WIRE)– PPG (NYSE:PPG) announced today that it has priced a public offering of 300 million euros aggregate principal amount of 0.000% notes due 2019 (the “2019 Notes”) at an issue price of 99.632% of the principal amount and 600 million euros aggregate principal amount of 0.875% notes due 2025 (the “2025 Notes” and, together with the 2019 Notes, the “Notes”) at an issue price of 98.836% of the principal amount.
The issuance of the Notes is expected to close on or about Nov. 3, 2016, subject to customary closing conditions. The Notes will pay interest on an annual basis.
PPG plans to use the net proceeds of the offering for general corporate purposes.
The joint book-running managers for the offering are J.P. Morgan Securities plc, BNP Paribas and MUFG Securities EMEA plc.
The offering is being made pursuant to an effective registration statement on Form S-3 (including a prospectus) filed with the U.S. Securities and Exchange Commission (the “SEC”). Prospective investors should read the prospectus forming a part of that registration statement, the prospectus supplement related to the offering, and the other documents that the company has filed with the SEC for more complete information about the company and this offering. These documents are available at no charge by visiting EDGAR on the SEC website atwww.sec.gov. Alternately, PPG, the underwriters or any dealer participating in this offering will arrange to send you the prospectus if you request it by: calling J.P. Morgan Securities plc collect at 44-20-7134-2468; calling BNP Paribas collect at 44-20-7595-8222; or calling MUFG Securities EMEA plc collect at 44-20-7577-2206.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy the Notes, nor shall there be any offer, solicitation or sale of the Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
PPG: WE PROTECT AND BEAUTIFY THE WORLD™
At PPG (NYSE:PPG), we work every day to develop and deliver the paints, coatings and materials that our customers have trusted for more than 130 years. Through dedication and creativity, we solve our customers’ biggest challenges, collaborating closely to find the right path forward. With headquarters in Pittsburgh, we operate and innovate in more than 70 countries and reported net sales of $14.8 billion in 2015. We serve customers in construction, consumer products, industrial and transportation markets and aftermarkets.
Forward-Looking Statements
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 timing of realization of anticipated cost savings from restructuring initiatives, difficulties in integrating acquired businesses and achieving expected synergies therefrom, economic and political conditions in international markets, the ability to penetrate existing, developing and emerging foreign and domestic 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, and the unpredictability of existing and possible future litigation, including asbestos litigation. 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.
We protect and beautify the world is a trademark and the PPG Logo is a registered trademark of PPG Industries Ohio, Inc.
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Contacts
PPG Media Contact:
Mark Silvey, +1-412-434-3046
Corporate Communications
silvey@ppg.com
or
PPG Investor Contact:
Scott Minder, +1-412-434-3466
Investor Relations
sminder@ppg.com
investor.ppg.com