Allegion plans to price fixed-rate senior notes to repay term loan

By Cristal Cody

Tupelo, Miss., Sept. 19 – Allegion plc plans to price new fixed-rate senior notes, according to a 424B5 filing with the Securities and Exchange Commission on Thursday.

BofA Securities, Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, BNP Paribas Securities Corp., Citigroup Global Markets Inc. and Wells Fargo Securities LLC are the bookrunners.

Co-managers are Fifth Third Securities, Inc., MUFG, PNC Capital Markets LLC, TD Securities (USA) LLC and U.S. Bancorp Investments, Inc.

Allegion subsidiary Allegion US Holding Co. Inc. will fully and unconditionally guarantee the notes.

The notes will have make-whole and par calls.

The issue has a change-of-control put at 101%.

Proceeds will be used to repay borrowings under the company’s $700 million term loan facility.

Allegion is a security products company based in Carmel, Ind.

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