Market Overview

Nortek Announces Pricing of Additional 8.5% Senior Notes due 2021


Nortek (NASDAQ: NTK) ( announced today that it has priced a private offering of $235.0 million in aggregate principal amount of its 8.5% Senior Notes due 2021 (the "New Notes") at an issue price of 107.125% of principal amount, plus accrued interest, if any, from October 15, 2012. The New Notes were offered as additional notes under an indenture pursuant to which Nortek previously issued $500.0 million in aggregate principal amount of its 8.5% Senior Notes due 2021. The offer is expected to close on October 18, 2012. Nortek intends to use all of the proceeds of the proposed offering to repay an equal amount of indebtedness outstanding under its term loan facility and to use cash on hand to pay related fees and expenses.

The New Notes have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), and, unless so registered, may not be offered or sold in the United States or to any U.S. persons absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and other applicable securities laws.

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, any securities, nor shall there be any sale of the New Notes, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Posted-In: News Financing


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