Pentair Announces Offering of Senior Notes
Pentair (NYSE: PNR) today announced that that Pentair Finance S.A., a wholly-owned subsidiary of Pentair, intends, subject to market and other conditions, to sell senior notes in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933 and in offshore transactions pursuant to Regulation S under the Securities Act. The notes will be unsecured and will be guaranteed as to payment of principal and interest by Pentair Ltd.
Pentair Finance intends to use the net proceeds from the sale of the notes to repay commercial paper as it becomes due and for general corporate purposes.
The notes have not been registered under the Securities Act of 1933 or the securities laws of any state and may not be offered or sold in the United States absent registration or an exemption from the registration requirements of the Securities Act and applicable state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy the notes, nor shall there be any sale of the notes, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.