PITTSBURGH--(BUSINESS WIRE)--Mar. 9, 2015--
PPG Industries (NYSE:PPG) announced today that on March 6 it priced its
previously announced offering of 600 million euros aggregate principal
amount of 0.875% notes due 2022 (the “2022 Notes”) at an issue price of
99.555% of the principal amount and 600 million euros aggregate
principal amount of 1.40% notes due 2027 (the “2027 Notes” and, together
with the 2022 Notes, the “Notes”) at an issue price of 98.628% of the
principal amount.
The issuance of the Notes is expected to close on or about March 13,
2015, subject to customary closing conditions. The Notes will pay
interest on an annual basis.
PPG Industries plans to use the net proceeds of the offering for general
corporate purposes.
The joint book-running managers for the offering are BNP Paribas;
Deutsche Bank AG, London Branch; HSBC Bank plc; J.P. Morgan Securities
plc; and Mitsubishi UFJ Securities International plc.
The offering is being made pursuant to an effective registration
statement on Form S-3 (including a prospectus) filed with the U.S.
Securities and Exchange Commission (the “SEC”). Prospective investors
should read the prospectus forming a part of that registration statement
and the prospectus supplement related to the offering and the other
documents that the company has filed with the SEC for more complete
information about the company and this offering. These documents are
available at no charge by visiting EDGAR on the SEC website at www.sec.gov.
Alternately, PPG Industries, the underwriters or any dealer
participating in this offering will arrange to send you the prospectus
if you request it by: calling BNP Paribas collect at 44-20-7595-8222;
calling Deutsche Bank AG, London Branch, collect at 44-20-7545-2761;
calling HSBC Bank plc collect at 1-866-811-8049; calling J.P. Morgan
Securities plc collect at 44-20-7134-2468; or calling Mitsubishi UFJ
Securities International plc collect at 44-20-7577-2206.
This news release shall not constitute an offer to sell or the
solicitation of an offer to buy the Notes, nor shall there be any offer,
solicitation or sale of the Notes in any jurisdiction in which such
offer, solicitation or sale would be unlawful prior to the registration
or qualification under the securities laws of any such jurisdiction.
PPG: BRINGING INNOVATION TO THE SURFACE.™
PPG Industries’ vision is to be the world’s leading coatings company by
consistently delivering high-quality, innovative and sustainable
solutions that customers trust to protect and beautify their products
and surroundings. Through leadership in innovation, sustainability and
color, PPG provides added value to customers in construction, consumer
products, industrial and transportation markets and aftermarkets to
enhance more surfaces in more ways than does any other company. Founded
in 1883, PPG has global headquarters in Pittsburgh and operates in
nearly 70 countries around the world. Reported net sales in 2014 were
$15.4 billion. PPG shares are traded on the New York Stock Exchange
(symbol:PPG).
Forward-Looking Statements
Statements in this news release relating to matters that are not
historical facts are forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995 reflecting the
company’s current view with respect to future events or objectives and
financial or operational performance or results. These matters involve
risks and uncertainties as discussed in PPG Industries’ periodic reports
on Form 10-K and Form 10-Q, and its current reports on Form 8-K, filed
with the SEC. Accordingly, many factors could cause actual results to
differ materially from the company’s forward-looking statements.
Among these factors are PPG’s ability to complete the offering, global
economic conditions, increasing price and product competition by foreign
and domestic competitors, fluctuations in cost and availability of raw
materials, the ability to maintain favorable supplier relationships and
arrangements, the realization of anticipated cost savings from
restructuring initiatives, difficulties in integrating acquired
businesses and achieving expected synergies therefrom, the ability to
penetrate existing, developing and/or emerging foreign and domestic
markets, economic and political conditions in international markets,
foreign exchange rates and fluctuations in such rates, fluctuations in
tax rates, the impact of future legislation, the impact of environmental
regulations, unexpected business disruptions, the unpredictability of
existing and possible future litigation, including litigation that could
result if the asbestos settlement discussed in PPG’s filings with the
SEC does not become effective, and the company’s ability to integrate
the Comex business acquisition and to achieve anticipated synergies.
However, it is not possible to predict or identify all such factors.
Consequently, while the list of factors presented here is considered
representative, no such list should be considered to be a complete
statement of all potential risks and uncertainties. Unlisted factors may
present significant additional obstacles to the realization of
forward-looking statements.
Consequences of material differences in results as compared with those
anticipated in the forward-looking statements could include, among other
things, business disruption, operational problems, financial loss, legal
liability to third parties and similar risks, any of which could have a
material adverse effect on the company’s consolidated financial
condition, results of operations or liquidity.
Forward-looking statements speak only as of the date of their initial
issuance, and PPG does not undertake any obligation to update or revise
publicly any forward-looking statement, whether as a result of new
information, future events or otherwise, except as otherwise required by
applicable law.
Bringing innovation to the surface is a trademark of PPG
Industries Ohio, Inc.
Source: PPG Industries, Inc.
PPG Industries, Inc.
Media:
Mark Silvey, PPG Corporate
Communications, 412-434-3046
silvey@ppg.com
or
Investors:
Vince
Morales, PPG Investor Relations, 412-434-3740
vmorales@ppg.com