Latest news with #EnproInc
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.
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.
Business Wire
13-05-2025
- Business
- Business Wire
Enpro Inc. Announces Conditional Redemption of All of Its 5.75% Senior Notes Due 2026
CHARLOTTE, N.C.--(BUSINESS WIRE)--Enpro Inc. (NYSE: NPO) announced that it is today providing notice conditionally calling for redemption all of the outstanding $350 million aggregate principal amount of its 5.75% Senior Notes due 2026 (the "Outstanding Notes") in accordance with the indenture governing the Outstanding Notes. The redemption of the Outstanding Notes is conditioned upon the completion of Enpro's offering, and its sale, of $450 million in aggregate principal amount of its senior notes due 2033 (the 'New Notes') being separately announced today. The redemption price of the Outstanding Notes is 100.0% of the principal amount, plus accrued and unpaid interest to, but not including, the redemption date. If the condition to redemption is satisfied or waived, the redemption date will be June 12, 2025. If the condition to redemption is not satisfied or waived prior to June 12, 2025, the notice of redemption will be deemed to have been withdrawn and rescinded. The following lists the CUSIP and ISIN numbers associated with the Outstanding Notes: This press release is for informational purposes only and 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. This press release also does not constitute an offer to sell, or the solicitation of an offer to buy, the New Notes. Any offer of the New Notes will be made only by means of a private offering memorandum. The New Notes are not being registered under the Securities Act of 1933, 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. 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 New 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.
