Compass Diversified Announces Pricing of a Private Offering of $300 Million of 5.000% Senior Unsecured Notes Due 2032
15 November 2021 - 10:40PM
Compass Diversified (NYSE: CODI) (“CODI”), a Delaware statutory
trust and the sole owner of 100% of the trust interests in Compass
Group Diversified Holdings, LLC (the “Company”), and the Company
announced today that the Company has priced $300 million in
aggregate principal amount of 5.000% senior unsecured notes due
2032 (the "Notes") at an issue price of 100% in a previously
announced private offering.
The Notes will be the Company’s senior unsecured
obligations and will not be guaranteed by any of the Company’s
subsidiaries.
The Company intends to use the net proceeds of
the Notes offering to repay a portion of the outstanding balance
under the Company’s existing revolving credit facility.
The offering is currently expected to close on
November 17, 2021, subject to customary conditions.
The Notes will not be registered under the
Securities Act of 1933, as amended (the “Securities Act”) or any
state securities laws and, unless so registered, may not be offered
or sold in the United States except pursuant to an applicable
exemption from the registration requirements of the Securities Act
and applicable state securities laws. The Notes will be offered
only to qualified institutional buyers in accordance with Rule 144A
and to non-U.S. Persons under Regulation S under the Securities
Act.
This press release does not and will not
constitute an offer to sell or the solicitation of an offer to buy
the Notes, nor will there be any sale of the Notes in any state in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state. This press release is being issued pursuant to and in
accordance with Rule 135c under the Securities Act.
Forward Looking Statements
This press release may contain certain
forward-looking statements, including statements with regard to the
future performance of CODI and the Notes offering. Words such as
"believes," "expects," "projects," and "future" or similar
expressions, are intended to identify forward-looking statements.
These forward-looking statements are subject to the inherent
uncertainties in predicting future results and conditions. Certain
factors could cause actual results to differ materially from those
projected in these forward-looking statements, and some of these
factors are enumerated in the risk factor discussion in the Form
10-K filed by CODI with the SEC for the year ended December 31,
2020, as supplemented by the risk factor discussion in the Form
10-Q filed by CODI with the SEC for the quarter ended September 30,
2021, and other filings with the SEC. Except as required by law,
CODI undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
Investor Relations:The IGB Group Leon Berman 212-477-8438
lberman@igbir.com |
Media Contact:Joele Frank, Wilkinson Brimmer KatcherJon Keehner /
Kate Thompson / Lyle Weston212-355-4449 |
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