By Lisa Kerner
Charlotte, N.C., May 14 - Brady Corp. sold €75 million principal amount of senior notes to accredited institutional investors in a private placement on Thursday, according to a form 8-K filed with the Securities and Exchange Commission.
The notes consist of €30 million principal amount of 3.71% series 2010-A senior notes, tranche A, due May 13, 2017 and €45 million principal amount of 4.24% series 2010-A senior notes, tranche B, due May 13, 2020, the filing said.
The notes are guaranteed by some of Brady's domestic subsidiaries.
Proceeds will be used to refinance existing debt, to fund future acquisitions and for general corporate purposes, the filing said.
Brady is a Milwaukee-based maker of labels and signs, printing systems and software, label-application and data-collection systems, safety devices and precision die-cut metals.
| Issuer: | Brady Corp.
|
| Issue: | Series 2010A senior notes
|
| Total amount: | €75 million
|
| Settlement: | May 13
|
| Distribution: | Private placement
|
|
|
| Tranche A
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| Amount: | €30 million
|
| Maturity: | May 13, 2017
|
| Coupon: | 3.71%
|
|
|
| Tranche B
|
| Amount: | €45 million
|
| Maturity: | May 13, 2020
|
| Coupon: | 4.24%
|
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