Harman International Industries, Incorporated (NYSE:HAR), the leading global infotainment, audio and software services company, today announced that it has priced an underwritten public offering of $400 million aggregate principal amount of 4.150% Senior Notes due 2025 (the “Notes”). The Notes will be issued at a price equal to 99.336% of the aggregate principal amount. The Company anticipates that the offering will close on or around May 11, 2015, subject to customary closing conditions.
The Company expects to receive net proceeds of approximately $394.1 million from the offering, after deducting the underwriting discount and estimated offering expenses. The Company intends to use the net proceeds for the repayment of a portion of the current balance of the Company’s revolving credit facility and use the remainder for general corporate purposes, which may include, among other things, capital expenditures, acquisitions, investments, share repurchases, dividend payments and the repayment, redemption or refinancing of all or a portion of any indebtedness or other securities outstanding at a particular time.
J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Wells Fargo Securities, LLC are acting as joint book-running managers for the offering.
Before making an investment in the Notes, potential investors should read the preliminary prospectus supplement, the accompanying prospectus and the other documents that the Company has filed with the Securities and Exchange Commission (the “SEC”) for more complete information about the Company and the offering. The offering is being made pursuant to a shelf registration statement on Form S-3 (including a prospectus) previously filed with the SEC and declared effective on April 30, 2015. A preliminary prospectus supplement and accompanying prospectus related to the offering was filed with the SEC on May 6, 2015. A final prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC. Electronic copies of the prospectus supplement and accompanying prospectus can be obtained through the website of the SEC at www.sec.gov. In addition, when available, a copy of the final prospectus supplement for the offering may be obtained from J.P. Morgan Securities LLC by calling 212-834-4533, Merrill Lynch, Pierce, Fenner & Smith Incorporated by calling 1-800-294-1322 or Wells Fargo Securities, LLC by calling 1-800-645-3751.
This press release is neither an offer to sell nor the solicitation of an offer to buy the Notes and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful. The offering of the Notes will be made only by means of a prospectus supplement and accompanying prospectus.
