Itron, Inc. Announces Proposed Offering of Additional $100 Million of 5.000% Senior Notes Due 2026
18 January 2018 - 12:15AM
Business Wire
Itron, Inc. (Nasdaq: ITRI) (the “Company”) today announced the
commencement of a private offering of $100 million aggregate
principal amount of additional 5.000% senior notes due 2026 (the
“Notes”), subject to market and other conditions. The Notes being
offered are additional notes under the indenture pursuant to which
the Company issued $300 million aggregate principal amount of its
5.000% senior notes due 2026 on Dec. 22, 2017. The Notes will be
treated as a single series with, and will have the same terms as,
the existing 2026 notes.
The Company intends to use the net proceeds from the offering of
the Notes to refinance existing indebtedness, pay related fees and
expenses and for general corporate purposes.
The Notes will be offered in the United States to qualified
institutional buyers under Rule 144A under the Securities Act
of 1933, as amended (the “Securities Act”), and to persons outside
the United States under Regulation S under the Securities Act.
The Notes and the related guarantees will not be registered under
the Securities Act, or the securities laws of any state or other
jurisdiction, and, unless so registered, may not be offered or sold
in the United States absent registration or an applicable exemption
from registration requirements.
This press release is for informational purposes only and is
neither an offer to buy or sell nor a solicitation of an offer to
buy or sell the securities described herein. There shall not be any
sale of these securities in any state or other jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction.
No Offer or Solicitation
This communication is neither an offer to sell, nor a
solicitation of an offer to buy any securities, nor shall there be
any sale, issuance or transfer of securities in any jurisdiction in
contravention of applicable law. No offer of securities shall be
made except by means of a prospectus meeting the requirements of
Section 10 of the Securities Act and otherwise in accordance
with applicable law.
Forward-Looking Statements
This communication may contain “forward-looking” statements, as
defined in federal securities laws including the Private Securities
Litigation Reform Act of 1995, which are based on our current
expectations, estimates, forecasts and projections. Statements that
are not historical facts, including statements about beliefs, plans
and expectations are forward-looking statements. Statements that
include words such as “anticipates”, “expects”, “intends”, “plans”,
“predicts”, “believes”, “seeks”, “estimates”, “may”, “will”,
“should”, “would”, “potential”, “continue”, “goals”, “targets” and
variations of these words (or negatives of these words) or similar
expressions of a future or forward-looking nature identify
forward-looking statements. In addition, any statements that refer
to projections or other characterizations of future events or
circumstances, including any underlying assumptions are
forward-looking statements. Forward-looking statements are based on
current expectations and are subject to a number of risks, factors
and uncertainties that could cause actual results to differ
materially from those described in the forward-looking statements.
Important factors and uncertainties that could cause actual results
to differ materially from those described in these forward-looking
statements include, without limitation: the parties’ ability to
meet expectations regarding the accounting and tax treatments of
the Itron Networked Solutions, Inc. (aka Silver Spring Networks,
Inc.) merger (the “SSNI Acquisition”); the impact of indebtedness
incurred by Itron in connection with the SSNI Acquisition and the
potential impact on the rating of indebtedness of Itron; and the
effects of the business combination of Itron and Itron Networked
Solutions, Inc., including the combined company’s future financial
condition, operating results, strategy and plans.
About Itron
Itron is a world-leading technology and services company
dedicated to the resourceful use of energy and water. We provide
comprehensive solutions that measure, manage and analyze energy and
water. Our broad product portfolio includes electricity, gas, water
and thermal energy measurement devices and control technology;
communications systems; software; as well as managed and consulting
services. With thousands of employees supporting nearly 8,000
customers in more than 100 countries, Itron applies knowledge and
technology to better manage energy and water resources. Together,
we can create a more resourceful world. Join us: www.itron.com.
Itron® is a registered trademark of Itron, Inc. All third-party
trademarks are property of their respective owners and any usage
herein does not suggest or imply any relationship between Itron and
the third party unless expressly stated.
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version on businesswire.com: http://www.businesswire.com/news/home/20180117005755/en/
Itron, Inc.Barbara DoyleVice President, Investor
Relations(509) 891-3443barbara.doyle@itron.comorRebecca
HusseyProgram Manager, Investor Relations(509)
891-3574rebecca.hussey@itron.com
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