Brink's (BCO) Prices $800M in Notes Offerings

The Brink’s Company (NYSE: BCO) (the “Company”) today announced the pricing of its offering of 5-year and 8-year senior unsecured notes in aggregate principal amounts of $400 million and $400 million, respectively. The notes will be issued at par, will mature on June 15, 2029 and June 15, 2032, respectively, and will bear an annual interest rate of 6.500% and 6.750%, respectively. The notes will be general unsecured obligations guaranteed by the Company’s existing and future U.S. subsidiaries that are guarantors under the Company’s credit facility. The offering is expected to close on June 12, 2024, subject to customary closing conditions. The offering was upsized from the previously announced offering of $400 million aggregate principal amount of 5-year senior unsecured notes, resulting in an additional series of 8-year senior unsecured notes.

The Company expects to use the net proceeds from the offering of the notes to redeem or repurchase the $400 million aggregate principal amount of its outstanding 5.500% Senior Notes due 2025 (the “2025 Senior Notes”) at or prior to maturity and to repay a portion of outstanding borrowings under its $1 billion revolving credit facility. Before applying a portion of the net proceeds to redeem or repurchase the 2025 Senior Notes as described above, the Company expects to use such portion of the net proceeds for general corporate purposes and to temporarily repay additional amounts outstanding under its revolving credit facility.

The notes have not been and will not be registered under the Securities Act of 1933, as amended (“Securities Act”), or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. The notes will be offered only to persons reasonably believed to be qualified institutional buyers in reliance on the exception from registration set forth in Rule 144A under the Securities Act and outside the United States to non-U.S. persons pursuant to Regulation S under the Securities Act.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the notes, and shall not constitute an offer, solicitation or sale of any notes in any jurisdiction in which such offer, solicitation or sale would be unlawful. Any offers of the notes will be made only by means of a private offering memorandum.

You May Also Be Interested In

• Faraday Future signs robotics distributor deal, plans partner event
• Raymond James on Whirlpool Corporation (WHR): 'July Major Appliance Industrial Production Remained Weak'
• OBOOK Holdings posts $18.8M net loss as OwlPay Harbor volume rises