Allegion plc (NYSE: ALLE) (“Allegion” or the “company”), a
leading global security products and solutions provider, today
announced that it priced its offering by its subsidiary, Allegion
US Holding Company Inc. (“Allegion US Holding”), of $400 million
aggregate principal amount of 5.600% SEC-registered senior
unsecured notes due 2034 (the “notes”). The offering is expected to
close on May 29, 2024, subject to the satisfaction of customary
closing conditions.
The notes will be guaranteed upon their issuance by
Allegion.
The company expects to use the net proceeds from the offering to
repay, at maturity, its $400 million outstanding aggregate
principal amount of its 3.200% senior notes, which mature on
October 1, 2024.
BofA Securities, Inc., Citigroup Global Markets Inc. and Wells
Fargo Securities, LLC are acting as joint book-running managers for
the offering. Goldman Sachs & Co. LLC, J.P. Morgan Securities
LLC and PNC Capital Markets LLC are also acting as joint
book-running managers for the offering, and BNP Paribas Securities
Corp., Huntington Securities, Inc., TD Securities (USA) LLC and
U.S. Bancorp Investments, Inc. are acting as co-managers for the
offering.
Allegion has filed an effective registration statement with the
U.S. Securities and Exchange Commission (“SEC”) for the offering
and encourages investors to read it (including the accompanying
prospectus, the related prospectus supplement and the information
incorporated by reference therein) for more complete information
about Allegion and the offering. You may obtain these documents for
free by visiting EDGAR on the SEC website at www.sec.gov.
Alternatively, copies may also be obtained by contacting BofA
Securities, Inc. at the following address: NC1-022-02-25, 201 North
Tryon Street, Charlotte, NC 28255-0001, Attn: Prospectus
Department, or by calling 1-800-294-1322, or by emailing
dg.prospectus_requests@bofa.com, or Citigroup Global Markets Inc.,
c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717 or by telephone at 1-800-831-9146 or by email at
prospectus@citi.com, or Wells Fargo Securities, LLC, 608 2nd Avenue
South, Suite 1000, Minneapolis, MN 55402, Attn: WFS Customer
Service, or by telephone at 1-800-645-3751 or by email at
wfscustomerservice@wellsfargo.com.
These securities are only offered by means of a prospectus and a
prospectus supplement related to the offering. This press release
is for informational purposes only and shall not constitute an
offer to sell, or the solicitation of an offer to buy, any
securities, nor will there be any sales of securities mentioned in
this press release in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such
jurisdiction.
About Allegion
Allegion (NYSE: ALLE) is a global pioneer in seamless access,
with leading brands like CISA®, Interflex®, LCN®, Schlage®,
SimonsVoss® and Von Duprin®. Focusing on security around the door
and adjacent areas, Allegion secures people and assets with a range
of solutions for homes, businesses, schools and institutions.
Allegion had $3.7 billion in revenue in 2023, and its security
products are sold around the world. For more, visit
www.allegion.com.
Forward-Looking Statements
This press release contains "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995, Section 27A of the Securities Act of 1933, and Section 21E of
the Securities Exchange Act of 1934, including, but not limited to,
the company’s statements regarding the company’s business plans and
strategy, the timing and completion of the notes offering and the
use of proceeds of the notes offering, as well as any other
statement that does not directly relate to any historical fact.
These forward-looking statements generally are identified by the
words “believe,” “aim,” “project,” “expect,” “anticipate,”
“estimate,” “forecast,” “outlook,” “intend,” “strategy,” “future,”
“opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,”
“will continue,” “will likely result” or the negative thereof or
variations thereon or similar expressions generally intended to
identify forward-looking statements. Forward-looking statements may
relate to such matters as projections of revenue, margins,
expenses, tax rate and provisions, earnings, cash flows, benefit
obligations, dividends, share purchases or other financial items;
any statements of the plans, strategies and objectives of
management for future operations, including those relating to any
statements concerning expected development, performance or market
share relating to our products and services; any statements
regarding future economic conditions or our performance; any
statements regarding pending investigations, claims or disputes;
any statements of expectation or belief; and any statements of
assumptions underlying any of the foregoing. Undue reliance should
not be placed on any forward-looking statements, as these
statements are based on the company's currently available
information and our current assumptions, expectations and
projections about future events. They are subject to future events,
risks and uncertainties - many of which are beyond the company’s
control - as well as potentially inaccurate assumptions, that could
cause actual results to differ materially from those in the
forward-looking statements. Important factors and other risks that
may affect the company's business or that could cause actual
results to differ materially are included in filings the company
makes with the Securities and Exchange Commission from time to
time, including its Annual Report on Form 10-K and its Quarterly
Reports on Form 10-Q and in its other SEC filings. All
forward-looking statements in this press release are expressly
qualified by such cautionary statements and by reference to the
underlying assumptions. The company undertakes no obligation to
update these forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by
law.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240521974606/en/
Media Contact: Whitney Moorman – Director, Global
Communications 317-810-3241 Whitney.Moorman@allegion.com
Analyst Contacts: Jobi Coyle – Director, Investor
Relations 317-810-3107 Jobi.Coyle@allegion.com
Josh Pokrzywinski – Vice President, Investor Relations
463-210-8595 Joshua.Pokrzywinski@allegion.com
Allegion (NYSE:ALLE)
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