Benzinga | Sep 16, 2021 05:40AM EDT

Diversey Plans To Raise $500M Via Debt Offering

* Cleaning and hygiene products provider Diversey Holdings Ltd (NASDAQ: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.