RYE, N.Y., Jan. 20 /PRNewswire-FirstCall/ -- Jarden Corporation (NYSE: JAH) today announced the closing of its public offering of $492 million aggregate principal amount of 7 1/2% Senior Subordinated Notes due 2020. The offering consists of two tranches: a U.S. dollar tranche with aggregate principal amount of $275 million at a discount to yield 7 5/8% and a Euro tranche with aggregate principal amount of Euro 150 million (approximately $217 million) at a discount to yield 7 3/4%.
The net proceeds to Jarden, after discounts and payment of underwriting and other expenses of the offering, are approximately $469 million. Jarden expects to use a portion of the net proceeds of the offering to repay $250 million aggregate principal amount of term loans under its senior credit facility, with the balance for general corporate purposes.
This press release does not and shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any jurisdiction. A registration statement relating to the notes was declared effective by the Securities and Exchange Commission and this offering will be made by means of a prospectus supplement. Copies of the prospectus supplement and accompanying prospectus relating to the offering may be obtained from the offices of Deutsche Bank Securities at the following address:
Deutsche Bank Securities
60 Wall Street
New York, NY 10005
Or by calling toll free at: 1-800-503-4611
An electronic copy of the prospectus supplement and the accompanying prospectus will also be available on the website of the Securities and Exchange Commission at http://www.sec.gov.
About Jarden Corporation
Jarden Corporation is a leading provider of niche consumer products. Jarden operates in three primary business segments through a number of well recognized brands, including: Outdoor Solutions: Abu Garcia®, Berkley®, Campingaz® and Coleman®, Fenwick®, Gulp!®, JT®, K2®, Marker®, Marmot®, Mitchell®, Penn®, Rawlings®, Shakespeare®, Stearns®, Stren®, Trilene®, Volkl®, and Zoot®; Consumer Solutions: Bionaire®, Crock-Pot®, FoodSaver®, Health o meter®, Holmes®, Mr. Coffee®, Oster®, Patton®, Rival®, Seal-a-Meal®, Sunbeam®, VillaWare® and White Mountain®; and Branded Consumables: Ball®, Bee®, Bicycle®, Crawford®, Diamond®, Dicon®, First Alert®, Forster®, Hoyle®, Kerr®, Lehigh®, Leslie-Locke®, Loew Cornell® and Pine Mountain®. Headquartered in Rye, N.Y., Jarden has over 20,000 employees worldwide. For more information, please visit www.jarden.com.
Note: This news release contains "forward-looking statements" within the meaning of the federal securities laws and is intended to qualify for the Safe Harbor from liability established by the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's adjusted earnings per share, repurchase of shares of common stock from time to time under the Company's stock repurchase program, the outlook for the Company's markets and the demand for its products, estimated sales, segment earnings, earnings per share, cash flows from operations, free cash flow, future revenues and gross, operating and EBITDA margin improvement requirement and expansion, organic growth, the success of new product introductions, growth in costs and expenses, the impact of commodities and transportation costs, the Company's ability to consummate, and the impact of, announced securities offerings and acquisitions and the impact of acquisitions, divestitures, restructurings, and other unusual items, including the Company's ability to integrate and obtain the anticipated results and synergies from its acquisitions. These projections and statements are based on management's estimates and assumptions with respect to future events and financial performance and are believed to be reasonable, though are inherently uncertain and difficult to predict. Actual results could differ materially from those projected as a result of certain factors. A discussion of factors that could cause results to vary is included in the Company's periodic and other reports filed with the Securities and Exchange Commission.
Offers of the notes to investors in any member state of the European Economic Area will be made pursuant to an exemption (under Article 3 of Directive 2003/71/EC (the "Prospectus Directive") as implemented by such member states) from the requirement to produce a prospectus for offers of the notes. No offer of the notes will be made to the public in a member state and offers and sales of the notes will be restricted to (a) legal entities which are authorized or regulated to operate in financial markets, or if not so authorized or regulated whose corporate purpose is solely to invest in securities; (b) to any legal entity which has two or more of (i) an average of at least 250 employees during the last financial year, (ii) a total balance sheet of more than EUR 43,000,000 and (iii) an annual net turnover of more than EUR 50,000,000 as shown in its last annual or consolidated accounts; or (c) in any other circumstances which do not require the publication of a prospectus pursuant to Article 3 of the Prospectus Directive. Any investment in the notes is only suitable and will only be directed at persons having professional experience in investment matters. If you do not have such professional experience you should not invest in the notes.
SOURCE Jarden Corporation