NEW BRITAIN, Conn.--(BUSINESS WIRE)--Nov. 25, 2013--
Stanley Black & Decker, Inc. (NYSE: SWK) (the “Company”) announced today
its intention to offer to sell, subject to market and other conditions,
$400 million aggregate principal amount of a new series of
fixed-to-floating rate junior subordinated debentures due 2053 (the
“Debentures”). The offering will be made pursuant to an effective
registration statement filed with the Securities and Exchange Commission
The Company intends to use the net proceeds from the offering for
general corporate purposes, including repayment of short term borrowings.
The Company is concurrently offering 3,000,000 Equity Units. The Company
expects the Equity Units will initially consist of $300 million
aggregate principal amount of junior subordinated notes due 2018 and
contracts obligating the investors to purchase, for an aggregate of $300
million, shares of common stock. The Company expects to grant to the
underwriters an option to purchase additional Equity Units to cover
over-allotments. The completion of the concurrent Equity Units offering
is not subject to the completion of the offering of the Debentures and
the completion of the offering of the Debentures is not subject to the
completion of the concurrent Equity Units offering.
Deutsche Bank Securities Inc., Goldman, Sachs & Co. and Wells Fargo
Securities, LLC are acting as joint book-running managers of this
This press release does not constitute an offer to sell or a
solicitation of an offer to buy nor shall there be any sales of these
securities 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.
The Company has filed a registration statement (including a prospectus)
with the SEC for the offering to which this communication relates.
Before you invest, you should read the prospectus in that registration
statement and the other documents the Company has filed with the SEC for
more complete information about the Company and the offering. You may
get these documents for free by visiting EDGAR on the SEC’s website at http://www.sec.gov.
Alternatively, copies may be obtained by contacting Deutsche Bank
Securities Inc., Attention: Prospectus Department, Harborside Financial
Center, 100 Plaza One, Floor 2, Jersey City, New Jersey 07311-3988, by
email at firstname.lastname@example.org,
or by calling toll-free (800) 503-4611; Goldman, Sachs & Co., Attention:
Prospectus Department, 200 West Street, New York, New York 10282, by
email at email@example.com,
or by calling (866) 471‐2526; or Wells Fargo Securities, LLC, Attention:
Capital Markets Client Support, 1525 West W.T. Harris Blvd., NC0675,
Charlotte, North Carolina 28262, by email at firstname.lastname@example.org,
or by calling toll-free at (800) 326-5897.
About Stanley Black & Decker
Stanley Black & Decker, an S&P 500 company, is a diversified global
provider of hand tools, power tools and related accessories, mechanical
access and electronic security solutions, healthcare solutions,
engineered fastening systems, and more.
Statements in this press release that are not historical, including but
not limited to those regarding the Company’s: (i) planned securities
offerings and (ii) anticipated use of the net proceeds; are “forward
looking statements” and subject to risk and uncertainty. No assurance
can be given that the offering will be consummated on the terms
described above or at all. Consummation of the offering and the terms
thereof are subject to numerous conditions, many of which are beyond the
control of the Company, including: the prevailing conditions in the
public and private capital markets; interest rates; and economic,
political and market factors affecting trading volumes, securities
prices or demand for the Company’s stock.
“Safe Harbor” Statement under the Private Securities Litigation Reform
Act of 1995: Statements in this press release regarding Stanley Black &
Decker, Inc.’s business which are not historical facts are
“forward-looking statements” that involve risks and uncertainties. For a
discussion of such risks and uncertainties, which could cause actual
results to differ from those contained in the forward-looking
statements, see “Risk Factors” in the Company’s Annual Report or Form
10-K for the most recently ended fiscal year.
Source: Stanley Black & Decker, Inc.
Stanley Black & Decker, Inc.
Greg Waybright, 860-827-3833
President, Investor & Government Relations