Lennox International to price fixed-rate notes via five bookrunners

By Mary-Katherine Stinson

Lexington, Ky., Sept. 7 – Lennox International Inc. plans to sell dollar-denominated fixed-rate notes, according to a 424B5 filed with the Securities and Exchange Commission.

The notes will initially be guaranteed by subsidiaries Advanced Distributor Products LLC, Allied Air Enterprises LLC, Heatcraft Inc., Heatcraft Refrigeration Products LLC, Heatcraft Technologies Inc., Lennox Global LLC, Lennox Industries Inc., Lennox National Account Services Inc., Lennox National Account Services LLC, Lennox Procurement Co. Inc., Lennox Services LLC, LGL Australia (US) Inc. and LGL Europe Holding Co.

The notes have a make-whole call and then a par call.

A change-of-control triggering event will make the notes putable at 101.

BofA Securities Inc., J.P. Morgan Securities LLC, Wells Fargo Securities LLC, PNC Capital Markets LLC and U.S. Bancorp Investments, Inc. are the bookrunners for the offering.

U.S. Bank Trust Co., NA is the trustee.

Jones Day will act as legal counsel for Lennox and its subsidiaries, while Davis Polk & Wardwell LLP will advise the underwriters.

The Richardson, Tex., climate-control products company will use the proceeds to repay, redeem or otherwise retire $350 million total principal amount of its outstanding 3% senior notes due 2023 and for general corporate purposes.

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