Univar Solutions Inc. (NYSE:UNVR) Declares Pricing of $500 Million Senior Notes

Univar Solutions Inc. (NYSE:UNVR) was showing an upward trend during the previous trading session, reported the rise of 2.39%, to close at $23.61, with the overall traded volume of 1.36 million shares. During last trade, the company’s minimum price was $23.08, while it touched its highest price of $23.65. The company has the total of 169.32 million outstanding shares. Its market capitalization was $4.00 billion.

Univar Solutions Inc. (NYSE:UNVR)  on November 15, 2019 stated that its wholly-owned subsidiary, Univar Solutions USA Inc., has priced an offering of $500.0 million in aggregate principal amount of 5.125% senior notes due 2027 (the “Notes”) in a private offering, which represents a $100.0 million rise in the previously announced size of the offering. The Company plans to use the additional proceeds from the proposed offering to repay a portion of its existing secured indebtedness. The sale of the Notes is anticipated to be completed on or about November 22, 2019, subject to customary closing conditions.

The Company plans to use the net proceeds from the proposed offering, together with cash on hand and the proceeds of the borrowing under a new USD term loan B facility, to (i) redeem all the outstanding aggregate principal amount of Univar Solutions USA’s 6.75% Senior Notes due 2023 (the “Existing Notes”), (ii) repay all the outstanding aggregate principal amount of the existing Euro term B-2 loan facility (the “Existing EUR Term Loan”), (iii) repay a portion of the aggregate principal amount of the Company’s existing secured indebtedness and (iv) pay any related fees and expenses incurred in connection with the foregoing. As of the date of this press release the outstanding aggregate principal amount of the Existing Notes and the Existing EUR Term Loan is $400 million and €350 million, respectively.

The Notes and related guarantees are being offered only to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”)” in compliance with Regulation S under the Securities Act.

Univar Solutions Inc. (NYSE:UNVR) is a main worldwide concoction and fixing merchant and supplier of significant worth added administrations to clients over a wide scope of businesses. With the business’ biggest private transportation armada and North American deals power, an immense provider organize, profound market and administrative information, world-class detailing and formula improvement, unrivaled coordinations know-how, and industry-driving advanced devices, Univar Solutions is a dedicated partner to clients and providers, helping them foresee, explore, and influence significant development openings.

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