Stanley Black & Decker, Inc. Announces Pricing of Notes Offering

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Mar 01, 2023, 19:42 ET

NEW BRITAIN, Conn., March 1, 2023 /PRNewswire/ -- Stanley Black & Decker, Inc. (NYSE: SWK) (the "Company") announced today that it priced its offering of $350 million aggregate principal amount of 6.272% Senior Notes due 2026 (the "2026 Notes") at 100.000% of par and $400 million aggregate principal amount of 6.000% Senior Notes due 2028 (the "2028 Notes," and together with the 2026 Notes, the "Notes") at 99.893% of par. The offering is being made under the Company's existing shelf registration statement previously filed with the Securities and Exchange Commission (the "SEC") and is expected to close subject to the satisfaction of customary closing conditions on March 6, 2023.

The Company will receive net proceeds of approximately $745.4 million from the sale of the Notes, after deducting the underwriting discount and offering expenses. The Company intends to use the net proceeds from the offering for general corporate purposes, including repayment of indebtedness under our commercial paper facilities.

BofA Securities, Citigroup, J.P. Morgan, Wells Fargo Securities, Credit Suisse, Deutsche Bank Securities and Morgan Stanley are acting as joint book-running managers of this offering.

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 the Notes 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 offering of the Notes will be made only by means of a prospectus and a related prospectus supplement. Before you invest, you should read the prospectus, the related prospectus supplement and the other documents the Company has filed with the SEC for more complete information about the Company and the offering. Copies of the final prospectus supplement for the offering may be obtained by visiting EDGAR on the SEC's website at http://www.sec.gov. Alternatively, copies may be obtained by contacting BofA Securities, Inc., NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, Attention: Prospectus Department, by email at [email protected] or by calling 1-800-294-1322; Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by email at [email protected] or by calling 1-800-831-9146; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by calling 1-212-834-4533; or Wells Fargo Securities, LLC, Attention: WFS Customer Service, 608 2nd Avenue South, Suite 1000, Minneapolis, MN 55402, by email at [email protected] or by calling 1-800-645-3751.

About Stanley Black & Decker

Headquartered in the USA, Stanley Black & Decker (NYSE: SWK) is a worldwide leader in tools and outdoor operating manufacturing facilities worldwide. Guided by its purpose - for those who make the world - the company's more than 50,000 diverse and high-performing employees produce innovative, award-winning power tools, hand tools, storage, digital tool solutions, lifestyle products, outdoor products, engineered fasteners and other industrial equipment to support the world's makers, creators, tradespeople and builders. The company's iconic brands include DEWALT®, BLACK+DECKER®, CRAFTSMAN®, STANLEY®, CUB CADET®, HUSTLER® and TROY-BILT®. Recognized for its leadership in environmental, social and governance (ESG), Stanley Black & Decker strives to be a force for good in support of its communities, employees, customers and other stakeholders.

Statements in this press release that are not historical, including but not limited to those regarding the Company's: (i) securities offerings and (ii) anticipated use of the net proceeds, are "forward looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 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.

For a discussion of risks and uncertainties, which could cause actual results to differ materially from those contained in the forward-looking statements, see "Risk Factors" in the Company's most recently filed Annual Report on Form 10-K.

Investor Contacts

Dennis Lange
Vice President, Investor Relations
(860) 827-3833
[email protected]

Cort Kaufman
Senior Director, Investor Relations
(860) 515-2741
[email protected]

Christina Francis
Director, Investor Relations
(860) 438-3470
[email protected]

SOURCE Stanley Black & Decker