LONDON--(BUSINESS WIRE)--
nVent Electric plc (NYSE:NVT) (“nVent”), a global leader in electrical
connection and protection solutions, today announced that nVent Finance
S.à r.l., a wholly-owned subsidiary of nVent (the “Issuer”), commenced
an offer to exchange all of its outstanding, unregistered 3.950% Senior
Notes due 2023 and all of its outstanding, unregistered 4.550% Senior
Notes due 2028 (collectively, the “Original Notes”) for new, registered
3.950% Senior Notes due 2023 and 4.550% Senior Notes due 2028,
respectively (collectively, the “New Notes”). The New Notes will be
fully and unconditionally guaranteed as to the due and punctual payment
of the principal of, premium, if any, and interest and additional
amounts, if any, on the New Notes by nVent.
The terms of the New Notes to be issued in the exchange offer are
substantially identical to those of the Original Notes, except that the
New Notes will not have securities law transfer restrictions, and the
registration rights relating to the Original Notes and the New Notes
will not provide for the payment of additional interest under
circumstances relating to the timing of the exchange offer.
The exchange offer will expire at 5:00 p.m. New York City time, on
October 16, 2018, unless extended by nVent. Valid tenders of the
Original Notes must be made, and may be withdrawn at any time, before
the exchange offer expires.
Documents describing the terms of the exchange offer, including the
prospectus and transmittal materials for making tenders, may be obtained
from the exchange agent, U.S. Bank National Association, by regular,
registered or certified mail, by overnight courier or by hand at U.S.
Bank National Association, 111 Fillmore Avenue E., St. Paul, Minnesota
55107, Attention: Specialized Finance Department or by facsimile (for
eligible institutions only) at (651) 466-7372, Attention: Specialized
Finance Department with confirmation by telephone at (800) 934-6802.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy securities. The exchange offer is being
made only pursuant to a prospectus and the related letter of transmittal
and only to such persons and in such jurisdictions as is permitted under
applicable law.
About nVent
nVent is a leading global provider of electrical connection and
protection solutions. We believe our inventive electrical solutions
enable safer systems and ensure a more secure world. We design,
manufacture, market, install and service high performance products and
solutions that connect and protect some of the world's most sensitive
equipment, buildings and critical processes. We offer a comprehensive
range of enclosures, electrical connections and fastening and thermal
management solutions across industry-leading brands that are recognized
globally for quality, reliability and innovation. Our principal office
is in London, United Kingdom and our management office in the United
States is in Minneapolis, Minnesota. Our robust portfolio of leading
electrical product brands dates back more than 100 years and includes
nVent CADDY, ERICO, HOFFMAN, RAYCHEM, SCHROFF and TRACER.
nVent, CADDY, ERICO, HOFFMAN, RAYCHEM, SCHROFF and TRACER are trademarks
owned or licensed by nVent Services GmbH or its affiliates.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
This press
release contains statements that we believe to be “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995. All statements, other than statements of historical
fact are forward-looking statements. Without limitation, any statements
preceded or followed by or that include the words “targets,” “plans,”
“believes,” “expects,” “intends,” “will,” “likely,” “may,”
“anticipates,” “estimates,” “projects,” “should,” “would,” “positioned,”
“strategy,” “future” or words, phrases or terms of similar substance or
the negative thereof, are forward-looking statements. All projections in
this press release are also forward-looking statements. These
forward-looking statements are not guarantees of future performance and
are subject to risks, uncertainties, assumptions and other factors, some
of which are beyond our control, which could cause actual results to
differ materially from those expressed or implied by such
forward-looking statements. These factors include the ability to realize
the anticipated benefits from our separation from Pentair (the
“Separation”); adverse effects on our business operations or financial
results as a result of the consummation of the Separation; the ability
of our business to operate independently following the Separation;
overall global economic and business conditions impacting our business;
the ability to achieve the benefits of our restructuring plans; the
ability to successfully identify, finance, complete and integrate
acquisitions; competition and pricing pressures in the markets we serve,
including the impacts of tariffs; the strength of housing and related
markets; volatility in currency exchange rates and commodity prices;
inability to generate savings from excellence in operations initiatives
consisting of lean enterprise, supply management and cash flow
practices; increased risks associated with operating foreign businesses;
the ability to deliver backlog and win future project work; failure of
markets to accept new product introductions and enhancements; the impact
of changes in laws and regulations, including those that limit U.S. tax
benefits; the outcome of litigation and governmental proceedings; and
the ability to achieve our long-term strategic operating goals.
Additional information concerning these and other factors is contained
in our filings with the Securities and Exchange Commission, including
nVent’s Registration Statement on Form S-4. All forward-looking
statements speak only as of the date of this press release. nVent
assumes no obligation, and disclaims any obligation, to update the
information contained in this press release.
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nVent Electric plc
Investor Contact
J.C.
Weigelt, 763-204-7750
Vice President, Investor Relations
JC.Weigelt@nVent.com
or
Media
Contact
Jill Saletta, 763-204-7771
Vice President,
Communications
Jill.Saletta@nVent.com
Source: nVent Electric plc