Latest News

Acuity Brands Prices $500 Million of Senior Notes

Acuity Brands Prices $500 Million of Senior Notes

ATLANTA — Acuity Brands, Inc. announced that its wholly-owned operating subsidiary, Acuity Brands Lighting, Inc. (“ABL”), has priced its previously announced offering of senior unsecured notes in an aggregate principal amount of $500 million. The notes will mature on December 15, 2030 and bear interest at a rate of 2.150% per annum and will be issued at a price equal to 99.737% of their face value. The notes will be fully and unconditionally guaranteed by the Company and ABL IP Holding LLC (“ABL IP Holding”), a wholly-owned subsidiary of ABL. The offering is expected to settle on November 10, 2020.

The Company intends to use the net proceeds from the offering of the notes to prepay all of the outstanding borrowings under ABL’s senior unsecured term loan and for general corporate purposes.

BofA Securities, Inc. and J.P. Morgan Securities LLC are acting as joint book-running managers of the offering of notes.

ABL has filed a registration statement (including a prospectus dated October 23, 2020 and a preliminary prospectus supplement dated October 27, 2020) with the Securities and Exchange Commission (the “SEC”) for the offering of the notes. Prospective investors should read the prospectus in the registration statement, the preliminary prospectus supplement and other documents the Company has filed with the SEC for more complete information about the Company, ABL, ABL IP Holding and the offering. These documents are available for free by visiting EDGAR on the SEC’s website at sec.gov. Alternatively, copies may be obtained from BofA Securities, Inc. at 1-800-294-1322, or J.P. Morgan Securities LLC at 1-212-834-4533

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

Tagged with

Comment on the story

Your email address will not be published.