Axalta Coating Systems Ltd. (AXTA): debt financing — Axalta issues $500M 7.250% senior notes due 2031, redeems €450M 2025 notes

Axalta Coating Systems Ltd.

$500M aggregate principal of 7.250% Senior Notes due 2031 issued by subsidiary Dutch Holding B B.V.
Net proceeds plus cash on hand used to redeem €450M of 3.750% Senior Notes due 2025 at par plus accrued interest.
Cross-currency swaps convert entire $500M note proceeds into ~€467M at ~5.62% fixed rate, maturing Nov 2026.
Notes are senior unsecured, guaranteed by Axalta and certain subsidiaries; rank equally with existing senior debt.
Restrictive covenants limit additional debt, dividends, asset sales; investment grade rating would suspend most covenants.

item 1.01 item 2.03 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Axalta Coating Systems Ltd. incurred senior notes of $500.0 million at 7.250% maturing due 2031.

Instrument: senior notes
Principal: $500.0 million
Rate: 7.250%
Maturity: due 2031
Event: incurrence

Exact text from the filing

issued $500.0 million in aggregate principal amount of 7.250% Senior Notes due 2031 (the "Notes")

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Axalta Coating Systems Ltd. filing history →

Source: SEC EDGAR

accession 0001616862-23-000085

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