Jarden Corporation Announces Proposed Private Offering of $600 Million Senior
Subordinated Convertible Notes
MIAMI, March 11, 2014
MIAMI, March 11, 2014 /PRNewswire/ --Jarden Corporation (NYSE: JAH) (the
"Company") today announced that it intends, subject to market and other
conditions, to offer $600 million in aggregate principal amount of Senior
Subordinated Convertible Notes due 2034 (the "Convertible Notes") in a
private offering to qualified institutional buyers pursuant to Rule 144A under
the Securities Act of 1933, as amended (the "Securities Act"). The interest
rate, initial conversion price, repurchase provisions and other terms of the
Convertible Notes will be determined by negotiations between the Company and
the initial purchasers. In connection with this offering, the Company expects
to grant to the initial purchasers an option to purchase up to an additional
$90 million in aggregate principal amount of the Convertible Notes.
The Company intends to use the net proceeds to repurchase up to $250 million
shares of its common stock under its stock repurchase program, subject to
availability, and the remainder for general corporate purposes, which may
include repayment of debt.
This press release is neither an offer to sell nor a solicitation of an offer
to buy the Convertible Notes or the shares of common stock issuable upon
conversion of the Convertible Notes, nor shall there be any sale of these
securities in any state or jurisdiction in which such an offer, solicitation
or sale would be unlawful prior to the registration or qualification under the
securities laws of any such state or jurisdiction.
The Convertible Notes and the common stock issuable upon conversion of the
Convertible Notes have not been registered under the Securities Act, or the
securities laws of any other jurisdiction, and may not be offered or sold in
the United States absent registration or an applicable exemption from
registration requirements. The offering is being made to qualified
institutional buyers pursuant to Rule 144A under the Securities Act.
Note: This news release contains "forward-looking statements" within the
meaning of the federal securities laws and is intended to qualify for the safe
harbor from liability established by the Private Securities Litigation Reform
Act of 1995, including statements regarding the consummation of the Company's
proposed senior subordinated convertible notes offering and the intended use
of proceeds from such offering. These statements are based on management's
estimates and assumptions with respect to future events and financial
performance and are believed to be reasonable, though are inherently uncertain
and difficult to predict. Actual results could differ materially from those
projected as a result of certain factors. A discussion of factors that could
cause results to vary is included in the Company's periodic and other reports
filed with the Securities and Exchange Commission.
SOURCE Jarden Corporation
Contact: Jarden Corporation, Rachel Wilson, 914-967-9400; Investor Relations:
Allison Malkin, ICR, Inc., 203-682-8200; Press: Liz Cohen, Weber Shandwick,
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