Regal Rexnord launches tender offer for Altra subsidiary's $384M 6.125% notes due 2026

REGAL REXNORD CORP

Commences cash tender offer for any and all $383.685M 6.125% Senior Notes due 2026 of Stevens Holding (Altra subsidiary).
Early tender by Feb 24 gets $1,017.50 per $1,000 principal, including $50 early participation premium.
Late tender by March 13 gets $967.50 per $1,000; accrued interest paid in addition.
Consent solicitation seeks to eliminate restrictive covenants and change-of-control provisions in the indenture.
Tender and consent conditioned on merger with Altra; closing expected first half 2023, possibly Q1.

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