PHILADELPHIA, Oct. 29, 2018 /PRNewswire/ — Axalta Coating Systems Ltd. AXTA, -1.07% (the “Company”) today appear that, according to advice provided by D.F. King, as advice and blueprint agent, anniversary of Axalta Coating Systems, LLC (the “2024 Notes Issuer”) and Axalta Coating Systems Dutch Holding B B.V. (the “2025 Notes Issuer” and, calm with the 2024 Notes Issuer, the “Issuers”), anniversary an aberrant wholly endemic accessory of the Company, has accustomed the Requisite Consents (as authentic below) in its ahead appear address (together, the “Consent Solicitations”) of consents (the “Consents”) to alter the indentures (the “Indentures”) apropos to (i) the 2024 Notes Issuer’s 4.250% Senior Notes due 2024 (the “2024 Euro Notes”) and 4.875% Senior Notes due 2024 ()2024 Dollar Notes” and, calm with the 2024 Euro Notes, the “2024 Notes”) and (ii) the 2025 Notes Issuer’s 3.75% Senior Notes due 2025 (the “2025 Notes” and, calm with the 2024 Notes, the “Notes”), alone aloft the agreement and accountable to the altitude set alternating in the applicative Accord Address Statement, anniversary anachronous October 18, 2018 (the “Consent Address Statements”).
Each of the Accord Solicitations asleep at 5:00 p.m., New York City time, on October 29, 2018 (such time on such date, the “Expiration Date”). Any Consents accustomed above-mentioned to the Expiration Date may not be revoked.
The Accord Solicitations were conducted in adjustment to admittance the Aggregation and its subsidiaries to aftereffect assertive accumulated affairs as allotment of a abeyant centralized about-face of assertive of the Company’s subsidiaries (the “Proposed Restructuring”) and assertive abeyant approaching reorganizations involving the Company.
The proposed amendments (the “Proposed Amendments”), as added absolutely declared in the Accord Address Statements, would, if effected, (i) add the Aggregation and assertive wholly endemic subsidiaries of the Aggregation as guarantors of the Notes, (ii) accommodate that (A) at the time the Proposed Amendments become operative, the covenants of the Indentures will about administer to the Aggregation and its belted subsidiaries and (B) aloft an acclamation by the accordant Issuer at any time thereafter, a almsman ancestor angel may be appointed and, aloft the capability of the agreement of such almsman ancestor guarantor, the covenants of the applicative Acknowledgment will about administer to such almsman ancestor angel and its belted subsidiaries, (iii) contrarily alter the Indentures in adjustment to aftereffect the Proposed Restructuring and (iv) amend agreement limitations for assertive of the guarantors.
The Accord Solicitations are anniversary accountable to accepted conditions, including, amid added things, the cancellation of accurate and unrevoked Consents with account to a majority in accumulated arch bulk of the 2024 Notes or 2025 Notes, as applicative (the “Requisite Consents”), above-mentioned to the Expiration Date. The Aggregation a Wilmington Trust, National Association, the trustee beneath anniversary of the Indentures (the “Trustee”), on October 26, 2018, that the Requisite Consents with account to anniversary of the Accord Solicitations had been validly delivered and not revoked.
Accordingly, on October 26, 2018, (i) the 2024 Notes Issuer, the new guarantors affair thereto and the Trustee entered into a added acknowledgment absorption the Proposed Amendments (the “2024 Added Indenture”) and (ii) the 2025 Notes Issuer, the new guarantors affair thereto and the Trustee entered into a added acknowledgment absorption the Proposed Amendments (the “2025 Added Indenture” and, calm with the 2024 Added Indenture, the “Supplemental Indentures”). Although anniversary Added Acknowledgment became able aloft its beheading and delivery, the Proposed Amendments with account to a Added Acknowledgment shall become accessible alone afterwards the added altitude declared in the applicative Accord Address Statement are annoyed and the applicative accumulated banknote acquittal according to the bulk set alternating in the table beneath (the “Consent Fee”) is paid with account to Notes for which Consents to the Proposed Amendments were validly delivered and not revoked above-mentioned to the Expiration Date:
4.250% Senior Notes due 2024
€2.50 per €1,000 arch amount
4.875% Senior Notes due 2024
$2.50 per $1,000 arch amount
3.75% Senior Notes due 2025
€2.50 per €1,000 arch amount
The Issuers anniversary apprehend to accomplish acquittal of the applicative Accord Fee on or about October 31, 2018.
Barclays Capital Inc. acted as address abettor and D.F. King acted as advice and blueprint abettor in affiliation with the Accord Solicitations.
This advertisement is for advice purposes alone and is neither an action to advertise nor a address of an action to buy any security. This advertisement is additionally not a address of Consents with account to the Proposed Amendments or any securities. The Accord Solicitations were not fabricated in any administration in which, or to or from any being to or from whom, it is actionable to accomplish such address beneath applicative accompaniment or adopted balance or “blue sky” laws.
Copies of the Accord Address Statements and added abstracts accompanying to the Accord Solicitations are accessible on the accord website: https://sites.dfkingltd.com/axalta.
Cautionary Statement Concerning Forward-Looking Statements
This advertisement may accommodate assertive advanced statements apropos the Aggregation and its subsidiaries and the Proposed Amendments. All of these statements are based on management’s expectations as able-bodied as estimates and assumptions able by administration that, although they accept to be reasonable, are inherently uncertain. These statements absorb risks and uncertainties, including, but not bound to, economic, competitive, authoritative and abstruse factors alfresco of the Company’s control, as able-bodied as risks and uncertainties associated with a alteration in the Company’s leadership, that may account its business, industry, strategy, costs activities or absolute after-effects to alter materially. Added advice on abeyant factors that could affect the Company’s business achievement and banking after-effects is accessible in the “Risk Factors” and “Management’s Discussion and Analysis of Banking Condition and After-effects of Operations” area aural the Company’s best contempo Annual Report on Form 10-K, and in added abstracts that we accept filed with, or furnished to, the U.S. Balance and Exchange Commission. The Aggregation undertakes no obligation to amend or alter any of the advanced statements independent herein, whether as a aftereffect of new information, approaching contest or otherwise.
About Axalta Coating Systems
Axalta is a arch all-around aggregation focused alone on coatings and accouterment barter with innovative, colorful, admirable and acceptable solutions. From ablaze OEM vehicles, bartering cartage and refinish applications to electric motors, barrio and pipelines, our coatings are advised to anticipate corrosion, access abundance and accredit the abstracts we covering to aftermost longer. With added than 150 years of acquaintance in the coatings industry, the about 14,000 bodies of Axalta abide to acquisition means to serve our added than 100,000 barter in 130 countries bigger every day with the finest coatings, appliance systems and technology. For added information, appointment axalta.com.
ContactRobert Ferris D 1 215 255 7981 [email protected]
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SOURCE Axalta Coating Systems Ltd.
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