The following tranches (collectively, the “Notes”) of Regal Rexnord Corporation’s senior unsecured notes, totaling $4.7 billion in aggregate principal amount (the “Company”), were priced today: Its 6.05% Senior Notes due in 2026, 6.05% Senior Notes due in 2028, 6.30% Senior Notes due in 2030, and 6.40% Senior Notes due in 2033 each have an aggregate principal amount of $1,100,000,000, $1,250,000,000, $1,100,000,000, and $1,250,000,000, respectively. According to Rule 144A of the Securities Act of 1933, as amended (the “Securities Act”), and in accordance with Regulation S of the Securities Act, the Notes are being sold in a private placement to individuals who are reassuringly believed to be qualified institutional buyers (the “Notes Offering”).
As previously mentioned, the Company and Altra Industrial Motion Corp., a Delaware corporation (“Altra”), entered into a binding merger agreement on October 26, 2022, under which the Company would buy all of Altra’s issued and outstanding shares of common stock (the “Merger”). The Company plans to finance the merger, pay down its outstanding Senior Notes Due 2032 and some of Altra’s outstanding debt, as well as any fees and expenditures associated with it, using the net proceeds from the Notes Offering, term loan borrowings under its senior credit facilities, and cash on hand. The Merger’s closure, if it takes place, will happen at or after the closing of the Notes Offering and is not contingent on the conclusion of the Notes Offering.

Source: Prnewswire