NORTH BETHESDA, Md. - ESAB Corporation (NYSE: ESAB), an industrial compounder, announced its intention to offer $600 million in senior notes due in 2029, contingent on market conditions. The company aims to allocate the net proceeds from this offering towards the repayment of its senior term loan A-3 facility.
Any remaining funds are slated for general corporate uses. These notes, alongside the guarantees by some of ESAB's domestic subsidiaries, are to be offered to a select group of qualified institutional buyers in the U.S. and certain non-U.S. persons, in compliance with specific securities regulations.
The notes and their associated guarantees will not be registered under the Securities Act of 1933, as amended, nor any state securities laws, and therefore cannot be offered or sold within the U.S. to U.S. persons unless exempt from registration. The offering is exclusive to certain institutional buyers and international persons under specified conditions.
This press release does not represent an offer to sell or a solicitation to buy any securities. The sale of the notes and guarantees is prohibited in any jurisdiction where such an offer, solicitation, or sale would be unlawful without registration or qualification under the relevant securities laws. The completion of the offering is still uncertain.
ESAB Corporation, established in 1904 and headquartered in North Bethesda, Maryland, employs around 9,000 individuals and operates in approximately 150 countries. The company is recognized for its innovative products and workflow solutions, supported by its ESAB Business Excellence system.
This news is based on a press release statement from ESAB Corporation.
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