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 [email protected], 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 [email protected], 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 [email protected].
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.
