ESAB increases senior notes offering to $700 million, reports

ESAB increases senior notes offering to 0 million, reports

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NORTH BETHESDA, Md. – ESAB Corporation (NYSE: ESAB), an industry leader in composition, has increased its offering of senior notes to $700 million, an increase from the originally announced $600 million. The 6.25% Senior Notes mature in 2029 and the offering is scheduled to close on April 9, 2024, subject to standard closing conditions.

The Company has expressed its intention to use the net proceeds from the sale of the Notes to repay existing borrowings under its A-3 Senior Term Loan Facility. The remaining funds are reserved for general business purposes. Additionally, some national ESAB subsidiaries will guarantee the tickets.

The sale of these securities and the related guarantees will be carried out as part of a private offering. It is directed to a select group of U.S. investors considered to be qualified institutional buyers, pursuant to Rule 144A under the Securities Act of 1933. The offering will also be available to certain non-U.S. persons pursuant to Regulation S of the same law.

It is important to note that the notes and their guarantees have not been registered under the Securities Act or any state securities laws. Accordingly, they may not be offered or sold in the United States without registration or an applicable exemption from registration requirements.

The press release emphasizes that this announcement does not constitute an offer to sell nor the solicitation of an offer to buy securities. Completion of the offering is not guaranteed and depends on market conditions and other factors.

ESAB Corporation, established in 1904, has a strong presence in the industrial sector, with approximately 9,000 employees and operations in approximately 150 countries. This press release contains forward-looking statements that involve risks and uncertainties, which could cause actual results to differ materially from those projected.

This news article is based on a press release from ESAB Corporation.

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