Gates prices $500M 6.875% senior notes due 2029 to refinance 2026 notes

Gates Industrial Corp plc

$500M aggregate principal of 6.875% Senior Notes due 2029 priced at 100% of par; interest payable semi-annually Jan 1/Jul 1.
Net proceeds, plus new term loans and cash, will redeem all $568M of outstanding 6.250% Senior Notes due 2026.
Closing expected June 4, 2024, subject to customary conditions. Notes guaranteed by parent and certain subsidiaries.
Notes offered privately to QIBs under Rule 144A and to non-U.S. persons under Reg S; not registered under Securities Act.

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