Press Release
Griffon Corporation Announces Closing of $125 Million Add-On Offering of Senior Notes
The New Notes are senior unsecured obligations of Griffon and are
guaranteed by certain of its domestic subsidiaries. The New Notes and
related guarantees were offered in a private placement solely to
qualified institutional buyers in reliance on Rule 144A under the
Securities Act of 1933, as amended (the “Securities Act”), or outside
Griffon intends to use the proceeds of the offering (i) to repay a portion of its outstanding borrowings under its revolving credit facility and (ii) for the payment of related fees and expenses. Subsequently Griffon may re-borrow amounts repaid under its revolving credit facility for general corporate purposes, including to fund acquisitions and for share repurchases.
Forward-Looking Statements
This communication contains forward-looking statements that may state
Griffon’s or its management’s intentions, beliefs, expectations or
predictions for the future. Such forward-looking statements are subject
to certain risks, uncertainties and assumptions, and typically can be
identified by the use of words such as “intend,” “will,” “expect,”
“estimate,” “anticipate,” “forecast,” “plan,” “believe” and similar
terms. Although Griffon believes that its expectations are reasonable,
it can give no assurance that these expectations will prove to have been
correct, and actual results may vary materially. Factors that could
cause actual results to differ materially from those contemplated above
include, among others, risks and uncertainties related to the capital
markets generally, the anticipated use of proceeds of the offering of
the New Notes, and other factors detailed in filings made by Griffon
with the
View source version on businesswire.com: http://www.businesswire.com/news/home/20160518005966/en/
Source:
Griffon Corporation
Brian G. Harris, 212-957-5000
SVP & Chief
Financial Officer
or
Investor Relations:
ICR Inc.
Michael
Callahan, 203-682-8311
Senior Vice President