Latest news with #Enpro
Business Wire
29-05-2025
- Business
- Business Wire
Enpro Inc. Completes Offering of $450 Million 6.125% Senior Notes Due 2033
CHARLOTTE, N.C.--(BUSINESS WIRE)--Enpro Inc. (NYSE: NPO) ('Enpro') today announced that it has completed the previously announced offering of $450 million 6.125% Senior Notes due 2033 (the 'Senior Notes'). The offer was made in the United States to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the 'Securities Act'), and to non-U.S. persons in offshore transactions in reliance on Regulation S under the Securities Act. A portion of the net proceeds of the offering of the Senior Notes have been deposited with the trustee for Enpro's outstanding 5.75% Senior Notes due 2026 (the '5.75% Notes') to fully fund the redemption of all of the outstanding 5.75% Notes. The conditional redemption of the 5.75% Notes was announced by Enpro on May 13, 2025, with a redemption date of June 12, 2025, and all of the conditions to such redemption have been satisfied. The Senior Notes are unsecured, unsubordinated obligations of Enpro and mature on June 1, 2033. Interest on the Senior Notes accrues at a rate of 6.125% per annum and is payable semi-annually in cash in arrears on June 1 and December 1 of each year, commencing December 1, 2025. The Senior Notes are guaranteed on a senior unsecured basis by Enpro's direct and indirect domestic subsidiaries that are borrowers under, or guarantee, its senior secured revolving credit facility. Each holder of the Senior Notes may require Enpro to repurchase some or all of the Senior Notes for cash upon the occurrence of a defined 'change of control' event, at a price equal to 101% of the principal amount of the Senior Notes being repurchased, plus accrued and unpaid interest. Enpro's ability to redeem the Senior Notes prior to maturity is subject to certain conditions, including in certain cases the payment of make-whole amounts. The indenture governing the Senior Notes includes covenants that restrict Enpro's ability to engage in certain activities, including incurring liens on assets, engaging in certain asset sales, including sale and leaseback transactions, and merging consolidating or transferring or disposing of all or substantially all assets, subject to specified exceptions and qualifications set forth in the indenture. This press release is for informational purposes only and does not constitute an offer to sell, or the solicitation of an offer to buy, the Senior Notes. Any offers of the Senior Notes were made only by means of a private offering memorandum. The Senior Notes have not been registered under the Securities Act, or the securities laws of any other jurisdiction, and may not be offered or sold in the United States without registration or an applicable exemption from registration requirements. This press release also does not constitute a notice of redemption of, or an offer to purchase or a solicitation of an offer to purchase, the 5.75% Notes. The formal notice of redemption has been provided in accordance with the terms of the indenture governing the 5.75% Notes. Forward-Looking Statements This press release contains forward-looking statements. Actual results may differ materially from those reflected in the forward-looking statements. Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained under the heading of 'Risk Factors' listed from time to time in Enpro's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2024 and Quarterly Report on Form 10-Q for the period ended March 31, 2025.
Yahoo
23-05-2025
- Business
- Yahoo
Is INTERTEK GP (IKTSY) Stock Outpacing Its Business Services Peers This Year?
For those looking to find strong Business Services stocks, it is prudent to search for companies in the group that are outperforming their peers. INTERTEK GP (IKTSY) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Business Services peers, we might be able to answer that question. INTERTEK GP is a member of the Business Services sector. This group includes 270 individual stocks and currently holds a Zacks Sector Rank of #3. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. INTERTEK GP is currently sporting a Zacks Rank of #2 (Buy). The Zacks Consensus Estimate for IKTSY's full-year earnings has moved 8.4% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend. Our latest available data shows that IKTSY has returned about 7.3% since the start of the calendar year. Meanwhile, the Business Services sector has returned an average of 3.5% on a year-to-date basis. This shows that INTERTEK GP is outperforming its peers so far this year. Enpro (NPO) is another Business Services stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 3.6%. In Enpro's case, the consensus EPS estimate for the current year increased 0.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy). Breaking things down more, INTERTEK GP is a member of the Business - Information Services industry, which includes 10 individual companies and currently sits at #39 in the Zacks Industry Rank. Stocks in this group have lost about 2.3% so far this year, so IKTSY is performing better this group in terms of year-to-date returns. On the other hand, Enpro belongs to the Technology Services industry. This 129-stock industry is currently ranked #45. The industry has moved +3.3% year to date. Going forward, investors interested in Business Services stocks should continue to pay close attention to INTERTEK GP and Enpro as they could maintain their solid performance. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report INTERTEK GP (IKTSY) : Free Stock Analysis Report Enpro Inc. (NPO) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
14-05-2025
- Business
- Business Wire
Enpro Inc. Prices Offering of $450 Million 6.125% Senior Notes Due 2033
CHARLOTTE, N.C.--(BUSINESS WIRE)--Enpro Inc. (NYSE: NPO) today announced the pricing of its previously announced offering of senior notes due 2033 (the 'Senior Notes'). The face value of the Senior Notes is $450 million with an annual interest rate of 6.125%. The Senior Notes were priced at 100.0% of the face value. The offer was made in the United States to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the 'Securities Act'), and to non-U.S. persons in reliance on Regulation S under the Securities Act. The Senior Notes offering is expected to close on May 29, 2025. Enpro intends to use the net proceeds from the offering to fund the redemption of all of its outstanding 5.75% senior notes due 2026 (the 'Outstanding Notes'), to repay a portion of the borrowings under its senior secured revolving credit facility used to fund the repayment on April 9, 2025 of all of its then-outstanding term loans under its senior secured credit facility, and to pay fees and expenses in connection with the offering. The conditional redemption of the Outstanding Notes was announced by Enpro on May 13, 2025. This press release is for informational purposes only and does not constitute an offer to sell, or the solicitation of an offer to buy, the Senior Notes. Any offer of the Senior Notes will be made only by means of a private offering memorandum. The Senior Notes are not being registered under the Securities Act, or the securities laws of any other jurisdiction, and may not be offered or sold in the United States without registration or an applicable exemption from registration requirements. This press release also does not constitute a notice of redemption of, or an offer to purchase or a solicitation of an offer to purchase, the Outstanding Notes. The formal notice of redemption has been provided in accordance with the terms of the indenture governing the Outstanding Notes. Forward-Looking Statements This press release contains forward-looking statements. Actual results may differ materially from those reflected in the forward-looking statements. Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained under the heading of 'Risk Factors' listed from time to time in Enpro's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2024 and its Quarterly Report on Form 10-Q for the period ended March 31, 2025. In addition, it is not certain whether, and Enpro can provide no assurances that, the offering of the Senior Notes will be completed on the terms described above or at all or all conditions to the redemption of the Outstanding Notes will be satisfied. Risks and uncertainties include market conditions beyond Enpro's control, including high-yield debt market conditions.
Yahoo
14-05-2025
- Business
- Yahoo
Enpro Inc. Prices Offering of $450 Million 6.125% Senior Notes Due 2033
CHARLOTTE, N.C., May 14, 2025--(BUSINESS WIRE)--Enpro Inc. (NYSE: NPO) today announced the pricing of its previously announced offering of senior notes due 2033 (the "Senior Notes"). The face value of the Senior Notes is $450 million with an annual interest rate of 6.125%. The Senior Notes were priced at 100.0% of the face value. The offer was made in the United States to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and to non-U.S. persons in reliance on Regulation S under the Securities Act. The Senior Notes offering is expected to close on May 29, 2025. Enpro intends to use the net proceeds from the offering to fund the redemption of all of its outstanding 5.75% senior notes due 2026 (the "Outstanding Notes"), to repay a portion of the borrowings under its senior secured revolving credit facility used to fund the repayment on April 9, 2025 of all of its then-outstanding term loans under its senior secured credit facility, and to pay fees and expenses in connection with the offering. The conditional redemption of the Outstanding Notes was announced by Enpro on May 13, 2025. This press release is for informational purposes only and does not constitute an offer to sell, or the solicitation of an offer to buy, the Senior Notes. Any offer of the Senior Notes will be made only by means of a private offering memorandum. The Senior Notes are not being registered under the Securities Act, or the securities laws of any other jurisdiction, and may not be offered or sold in the United States without registration or an applicable exemption from registration requirements. This press release also does not constitute a notice of redemption of, or an offer to purchase or a solicitation of an offer to purchase, the Outstanding Notes. The formal notice of redemption has been provided in accordance with the terms of the indenture governing the Outstanding Notes. Forward-Looking Statements This press release contains forward-looking statements. Actual results may differ materially from those reflected in the forward-looking statements. Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained under the heading of "Risk Factors" listed from time to time in Enpro's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2024 and its Quarterly Report on Form 10-Q for the period ended March 31, 2025. In addition, it is not certain whether, and Enpro can provide no assurances that, the offering of the Senior Notes will be completed on the terms described above or at all or all conditions to the redemption of the Outstanding Notes will be satisfied. Risks and uncertainties include market conditions beyond Enpro's control, including high-yield debt market conditions. View source version on Contacts James M. GentileVice President, Investor RelationsPhone: 704-731-1527Email: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
13-05-2025
- Business
- Business Wire
Enpro Inc. Announces Offering of $450 Million of Senior Notes Due 2033
CHARLOTTE, N.C.--(BUSINESS WIRE)--Enpro Inc. (NYSE: NPO) today announced its intention to offer, subject to market and other conditions, $450 million in aggregate principal amount of its senior notes due 2033 (the 'Senior Notes') to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the 'Securities Act'), and to non-U.S. persons in reliance on Regulation S under the Securities Act. Enpro intends to use the net proceeds from the offering to fund the redemption of all of its outstanding 5.75% senior notes due 2026 (the 'Outstanding Notes'), to repay a portion of the borrowings under its senior secured revolving credit facility used to fund the repayment on April 9, 2025 of all of its then-outstanding term loans under its senior secured credit facility, and to pay fees and expenses in connection with the offering. The conditional redemption of the Outstanding Notes is being separately announced by Enpro today. This press release is for informational purposes only and does not constitute an offer to sell, or the solicitation of an offer to buy, the Senior Notes. Any offer of the Senior Notes will be made only by means of a private offering memorandum. The Senior Notes are not being registered under the Securities Act, or the securities laws of any other jurisdiction, and may not be offered or sold in the United States without registration or an applicable exemption from registration requirements. This press release also does not constitute a notice of redemption of, or an offer to purchase or a solicitation of an offer to purchase, the Outstanding Notes. The formal notice of redemption is being provided separately in accordance with the terms of the indenture governing the Outstanding Notes. Forward-Looking Statements This press release contains forward-looking statements. Actual results may differ materially from those reflected in the forward-looking statements. Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained under the heading of 'Risk Factors' listed from time to time in Enpro's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2024 and its Quarterly Report on Form 10-Q for the period ended March 31, 2025. In addition, it is not certain whether, and Enpro can provide no assurances that, the offering of the Senior Notes will be completed on the terms described above or at all or the condition to the redemption of the Outstanding Notes will be satisfied. Risks and uncertainties include market conditions beyond Enpro's control, including high-yield debt market conditions.
