Owens & Minor Announces Pricing of $ 500 Million Senior Notes Due 2029
RICHMOND, Virginia – (COMMERCIAL THREAD) – Owens & Minor, Inc. (NYSE: OMI) (the “Company”) today announced the price of its private offering (the “Offering”) in the aggregate principal amount of $ 500 million its 4,500% senior notes due 2029 (the “Notes”). The offering is scheduled to close on March 10, 2021. Closing of the offering is subject to the satisfaction of customary and market conditions.
The Notes will bear interest at the rate of 4.500% per annum. The Notes will mature on March 31, 2029. The Notes were offered at a price of 100% of their Principal Amount.
The Company intends to use the net proceeds of this offering, together with the expected borrowings under a new revolving credit facility and its amended and enhanced debt securitization facility, to fund the redemption or repayment. of the following outstanding debt, and to pay related charges, costs and expenses thereon: of this credit agreement dated July 27, 2017 (as amended, amended, extended, updated, replaced or supplemented from time to time) between the Company, Wells Fargo Bank, NA, JPMorgan Chase Bank, NA, Bank of America, NA and a syndicate of financial institutions, including Citibank, NA (“Existing Credit Agreement”) and (ii) borrowings outstanding under its existing revolving credit facility (the “Existing Revolving Credit Facility” ) provided under the existing Credit Agreement.
The Securities have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), the securities laws of any state or the securities laws of any other jurisdiction, and may not be offered or sold in the United States, or for the benefit of persons in the United States, except under an applicable exemption or in connection with a transaction not subject to the registration requirements of the Securities Act and applicable state securities or blue sky laws. Accordingly, the Notes have only been offered to persons reasonably considered to be “qualified institutional buyers”, as that term is defined by Rule 144A of the Securities Act, or outside the United States to non- “US Persons” in accordance with Regulation S under the Securities Act.
A confidential offering memorandum for the offering of the Notes has been made available to these eligible persons. The Offer is being conducted in accordance with the terms and subject to the conditions set out in this confidential offering memorandum.
This press release does not constitute an offer to sell, a solicitation to buy or an offer to buy or sell any securities. No offer, solicitation, purchase or sale will be made in any jurisdiction in which such offer, solicitation or sale would be illegal. Any offer or solicitation to purchase, if any, will be made only by means of a confidential offering memorandum. This press release does not constitute a notice of repayment of outstanding debt under the Company’s existing revolving credit facility or a notice of repayment of its B term loan, and any repayment of the B term loan and the existing revolving credit facility will be effected in accordance with the terms and conditions of the Existing Credit Agreement.
About Owens & Minor, Inc.
Owens & Minor, Inc. (NYSE: OMI) is a global healthcare solutions company that integrates product manufacturing, distribution support, and innovative technology services to deliver meaningful and enduring value across the board. sector, acute care to patients at home. Aligned with its mission of empowering our clients to advance healthcareMT, more than 15,000 teammates around the world serve more than 4,000 healthcare clients. A vertically integrated footprint, primarily based in the Americas, enables Owens & Minor to reliably deliver its self-fabricated surgical and PPE products. This transparent value chain is part of a product portfolio representing 1,200 branded suppliers. Operating continuously since 1882 from its headquarters in Richmond, Virginia, Owens & Minor has grown into a FORTUNE 500 company with operations located in North America, Asia, Europe and Latin America.
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Although we believe that our expectations regarding forward-looking statements are based on reasonable assumptions within the limits of our knowledge of our business, and operations, all forward-looking statements involve risks and uncertainties and, therefore, actual results could differ materially from those projected, anticipated or suggested by such statements. These forward-looking statements involve known and unknown risks, uncertainties and assumptions, which may cause the actual results, performance or achievements of the Company to differ materially from future results, performances or achievements expressed or implied by such statements. prospective. Forward-looking statements contained in this press release include, without limitation, statements relating to the offering and use of the proceeds thereof, as well as the entering into and borrowings under the New the Company’s revolving credit facility and the amended and enhanced debt securitization facility. . Unless required by law, the Company does not undertake to publicly update forward-looking statements, whether as a result of new information, future events or otherwise.