Griffon settles early tenders for 5¼% senior notes due 2022

Chicago, Feb. 19 – Griffon Corp. announced an early settlement of its tender offer for up to $850 million of its 5¼% senior notes due 2022 (Cusip: 398433AH5), according to a press release.

The early tender deadline was 5 p.m. ET on Feb. 18.

The tender offer is still set to expire at 11:59 p.m. ET on March 3.

A portion of the proceeds from the recently issued $850 million 5¾% senior notes due 2028 were used to repurchase $490,385,000 of the 2022 notes.

Noteholders who tendered their notes by the early tender deadline received $1,001.25 per $1,000 principal amount of notes, which includes an early tender consent payment of $20.00 per $1,000 principal amount of notes, plus any accrued interest up to but excluding the payment date.

Noteholders who tender after the early deadline will receive $981.25 per $1,000 principal amount of notes tendered.

Griffon also issued a conditional notice of redemption to redeem up to $850 million of the notes only if and to the extent that less than $850 million of the notes are repurchased under the tender offer.

After both the tender and the redemption, $150 million of the notes will remain outstanding.

The dealer manager is BofA Securities, Inc. (980 387-9534 collect or 888 292-0070 toll free).

The tender agent and information agent is D.F. King & Co., Inc. (212 269-5550 banks and brokers, 800 591-6313 all others or griffon@dfking.com).

Griffon operates in three main segments: consumer and professional products, home and building products, and defense electronics.

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