Stanley Black & Decker to launch sale of $25-par notes due 2052

By Stephanie N. Rotondo

Phoenix, July 18 - Stanley Black & Decker Inc. plans to issue $25-par junior subordinated notes due 2052, according to a prospectus filed with the Securities and Exchange Commission on Wednesday.

Bank of America Merrill Lynch, Morgan Stanley & Co. LLC, UBS Securities LLC and Wells Fargo Securities LLC are the joint bookrunning managers. Citigroup Global Markets Inc. and RBC Capital Markets LLC are the co-managers.

Interest will be payable on the 15th of March, June, September and December. Interest payments can be deferred for one or more paying periods for up to five consecutive years.

The notes are redeemable at any time.

The company will apply to list the notes on the New York Stock Exchange.

Proceeds will be used for general corporate purposes, which may include repayment of short-term debt and the refinancing of recent and near-term debt maturities.

The New Britain, Conn.-based company provides hand tools, power tools and accessories, industrial tools and automotive tools and equipment, mechanical access solutions, electronic security solutions and technology-based (engineered) fastening systems.

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