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Axalta Commences Notes Offering

By: Coatings World staff

Axalta Coating Systems Ltd. announced that two of its wholly-owned subsidiaries, Axalta Coating Systems, LLC and Axalta Coating Systems Dutch Holding B B.V. (collectively, the “Issuers”), intend to offer $500 million in aggregate principal amount of senior unsecured notes, subject to market and other conditions, to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and outside the United States in compliance with Regulation S under the Securities Act.
 
The Notes are expected to be fully and unconditionally guaranteed by the company and each of the company’s existing restricted subsidiaries, subject to certain exceptions. The Issuers expect to use the net proceeds of this offering for general corporate purposes and to pay related transaction costs and expenses.
 
The notes and related guarantees will not be registered under the Securities Act, or any state securities laws, and may not be offered or sold in the United States absent registration except pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws.

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