Allegion plc (NYSE: ALLE), a leading global provider of security products and solutions, today announced that it priced its previously announced offering of $300.0 million aggregate principal amount of 5.875% senior notes due 2023 (the "Notes"). The offering is expected to close on September 16, 2015, subject to customary closing conditions.
The Notes will be guaranteed upon their issuance by Allegion U.S. Holding Company Inc., Schlage Lock Company LLC and Von Duprin LLC, which are each wholly-owned subsidiaries of Allegion.
Allegion intends to use the net proceeds from the offering to repay a portion of the outstanding borrowings under its senior secured revolving credit facility.
These securities are only offered by means of the prospectus related to the offering. This news release shall not constitute an offer to sell, or the solicitation of an offer to buy, any securities, nor will there be any sales of securities mentioned in this news release 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.
This news release includes "forward-looking statements," which are statements that are not historical facts. These forward-looking statements are based on the company's currently available information and its current assumptions, expectations and projections about future events. They are subject to future events, risks and uncertainties-many of which are beyond the company's control-as well as potentially inaccurate assumptions, that could cause actual results to differ materially from those in the forward-looking statements. Further information on these factors and other risks that may affect the company's business is included in filings it makes with the SEC from time to time, including its Form 10-K for the year ended December 31, 2014, and its Form 10-Q for the quarters ended March 31 and June 30, 2015. The company assumes no obligations to update these forward-looking statements.
Allegion (NYSE: ALLE) is a global pioneer in safety and security, with leading brands like CISA, Interflex, LCN, Schlage and Von Duprin. Focusing on security around the door and adjacent areas, Allegion produces a range of solutions for homes, businesses, schools and other institutions. Allegion is a $2 billion company, with products sold in almost 130 countries.
For more, visit www.allegion.com.
Maria Pia Tamburri, Director, Public Affairs, 317-810-3399
Tom Martineau, Director, Investor Relations, 317-810-3759