Diversey Plans To Raise $500M Via Debt Offering

Cleaning and hygiene products provider Diversey Holdings Ltd DSEY subsidiary, Diamond (BC) B.V. has priced the private placement of $500.0 million of its 4.625% Senior Notes due 2029.
The offering is expected to close on September 29, 2021. The Notes will be issued under an indenture to be entered into upon the closing of the offering.
Diversey intends to use the net proceeds from the offering to repay indebtedness and for working capital purposes.
The Notes will bear interest at a rate of 4.625% per year, payable semi-annually on April 1 and October 1 of each year, beginning on April 1, 2022. The Notes will mature on October 1, 2029.
Price Action: DSEY shares closed lower by 0.70% at $15.63 on Wednesday.