Allegion guides $300 million eight-year notes with 6%-6¼% yield; pricing Friday

By Paul A. Harris

Portland, Ore., Sept. 11 – Allegion plc plans to price a $300 million offering of eight-year senior notes (expected ratings Ba2/BB+) on Friday following a late-morning conference call with investors, according to a market source.

J.P. Morgan Securities LLC, Goldman Sachs & Co., Wells Fargo Securities LLC, Credit Suisse Securities (USA) LLC, BofA Merrill Lynch, BNP Paribas Securities Corp. and Citigroup Global Markets Inc. are the joint bookrunners for the public offering.

BBVA, Fifth Third Bank, Mizuho Securities, MUFG, PNC Capital Markets, TD Securities and U.S. Bancorp Investments Inc. are the co-managers.

The notes come with three years of call protection.

The Dublin-based provider of security products and solutions plans to use the proceeds to pay down its revolving credit facility.

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