Regal Rexnord launches $4.16B notes offering to fund Altra acquisition; targets $160M cost synergies

REGAL REXNORD CORP

Offering of $4.16B aggregate principal senior unsecured notes launched Jan 5, 2023, plus $0.84B Term A-1 upsize.
Pro forma combined net sales $5.45B, net income $267.8M, diluted EPS $3.97 for nine months ended Sep 30, 2022.
Expects $160M cost synergies within four years post-close; one-time synergy costs estimated at $104M.
Merger consideration $62.00 per share in cash; pro forma FY2022 shows net loss of $166.5M due to debt interest.
Debt financing supports acquisition of Altra; closing subject to regulatory and shareholder approvals.

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