DEERFIELD, Ill.--(BUSINESS WIRE)--Sep. 19, 2018--
Fortune Brands Home & Security, Inc. (NYSE: FBHS), an industry-leading
home and security products company, announced that today it priced a
registered public offering of $600 million aggregate principal amount of
4.000% senior unsecured notes maturing in 2023. The Company intends to
use the net proceeds from the notes offering to pay down its current
revolving credit facility. The Company expects to close the offering on
September 21, 2018, subject to customary closing conditions.
“Our solid business model, consistent cash flow and strong balance sheet
have supported over a billion dollars of incremental capital deployment
so far in 2018 and investment grade ratings from all three rating
agencies,” said Patrick Hallinan, chief financial officer, Fortune
Brands. “With debt secured at attractive rates, we have enhanced our
capability to continue delivering incremental value to shareholders in
the form of strategic acquisitions, opportunistic share repurchases and
dividends.”
The senior unsecured notes offering is being made pursuant to an
effective shelf registration statement (including a base prospectus)
that the Company has on file with the Securities and Exchange Commission
(“SEC”). The offering may be made only by means of a prospectus
supplement and the base prospectus. Copies of the prospectus supplement
and the accompanying prospectus relating to the offering can be obtained
from Merrill Lynch, Pierce, Fenner & Smith Incorporated, Attention:
Prospectus Department, 200 North College Street, 3rd floor,
Charlotte, NC 28255-0001, or by calling 1-800-294-1322, or by emailing dg.prospectus_requests@baml.com;
from J.P. Morgan Securities LLC, Attention: Investment Grade Syndicate
Desk, 3rd Floor, 383 Madison Avenue, New York, NY 10179, or
by facsimile at 212-834-6081; and from Barclays Capital Inc., c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY
11717, toll-free at 1-888-603-5847 or by emailing barclaysprospectus@broadridge.com.
Electronic copies of the prospectus supplement and accompanying
prospectus are also available on the SEC website at www.sec.gov.
About Fortune Brands
Fortune Brands Home & Security, Inc. (NYSE: FBHS), headquartered in
Deerfield, Ill., creates products and services that fulfill the dreams
of homeowners and help people feel more secure. The Company's operating
segments are Plumbing, Cabinets and Doors & Security. Its trusted brands
include Moen, Perrin & Rowe, Riobel, Rohl, Shaws and Victoria + Albert
under the Global Plumbing Group (GPG); more than a dozen core brands
under MasterBrand Cabinets; Therma-Tru entry door systems, Fiberon
outdoor performance materials, and Master Lock and SentrySafe security
products. Fortune Brands holds market leadership positions in all of its
segments. Fortune Brands is part of the S&P 500 Index. For more
information, please visit www.FBHS.com.
Cautionary Statement Concerning Forward-Looking
Statements
This press release contains certain “forward looking statements.” Where,
in any forward-looking statement, we express an expectation or belief as
to future results or events, such expectation or belief is based on the
current plans and expectations of our management. Although we believe
that these statements are based on reasonable assumptions, they are
subject to numerous factors, risks and uncertainties that could cause
actual outcomes and results to be materially different from those
indicated in such statements. Our actual results could differ materially
from the results contemplated by these forward-looking statements due to
a number of factors, including but not limited to those factors
described in Item 1A of our Annual Report on Form 10-K for the year
ended December 31, 2017, filed with the Securities and Exchange
Commission. This press release is for informational purposes only; is
neither an offer to sell nor solicitation of an offer to purchase the
notes; and does not constitute an offer or sale in any jurisdiction in
which, or to any person to whom, such an offer or sale is unlawful. Any
offer of the notes will only be made by means of a prospectus.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180919005849/en/
Source: Fortune Brands Home & Security, Inc.
Fortune Brands Home & Security, Inc.
INVESTOR and MEDIA CONTACT:
Kaveh
Bakhtiari
847-484-4573
kaveh.bakhtiari@FBHS.com
