June 02, 2020
Axalta Coating Systems Ltd., a global leader in the coatings industry, has announced that two of its indirect wholly owned subsidiaries, Axalta Coating Systems, LLC and Axalta Coating Systems Dutch Holding B B.V. (collectively, the Issuers), priced their offering of US$500 million in aggregate principal amount of 4.75% Senior Notes due 2027 (the Notes). The Notes were offered to qualified institutional buyers pursuant to Rule 144A under 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 offering is expected to close on June 15, 2020, subject to customary conditions.
Latham & Watkins LLP represented Axalta Coating Systems in the offering with a corporate team led by Washington, D.C. partners Patrick Shannon and Jason Licht, with counsel Christopher Cronin and associates Lucas Balchun and Gabrielle Blum.