Valspar Announces Pricing of Debt Offering
MINNEAPOLIS, Minn., June 17, 2009 - The Valspar Corporation (NYSE: VAL) has announced that it has agreed to sell $300 million aggregate principal amount of 7.250% senior notes due June 15, 2019 pursuant to an effective shelf registration statement that previously was filed with the Securities and Exchange Commission. The company intends to use the net proceeds from this offering to repay a portion of its commercial paper borrowings and borrowings under its existing bank credit facilities.
The joint book-running managers for this offering were Bank of America Securities, Goldman, Sachs & Co. and Wachovia Securities.
This press release is not an offer to sell or a solicitation of an offer to buy any of the senior unsecured notes in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
Investor Contact: Tyler Treat, (612) 851-7358
Media Contact: Mike Dougherty, (612) 851-7802