On December 20, 2017, RPM International
Inc. (the Company) closed its offering of $300 million aggregate principal amount of 4.250% Notes due 2048 (the Notes) pursuant to an Underwriting Agreement (the Underwriting Agreement) with Merrill Lynch,
Pierce, Fenner & Smith Incorporated and Wells Fargo Securities, LLC, as representatives of the several underwriters named therein (collectively, the Underwriters).
In connection with the closing, on December 20, 2017, the Company issued and sold to the Underwriters the Notes pursuant to the
The Notes are governed by the Indenture, dated as of April 8, 2014 (the Base Indenture), between
the Company and Wells Fargo Bank, National Association, as supplemented by the Officers Certificate and Authentication Order, dated as of December 20, 2017 (the Officers Certificate). The Officers Certificate and
the Base Indenture are referred to herein collectively as the Indenture.
Interest on the Notes will accrue from
December 20, 2017 and will be payable semiannually in arrears on January 15th and July 15th of each year, beginning July 15, 2018, at a rate of 4.250% per year. The Notes mature on January 15, 2048.
The Indenture provides that an Event of Default (as defined in the Indenture) will occur if the Company defaults in any payment of interest on
any Note when due and payable and the default continues for a period of 30 days, defaults in payment of any principal of any Note when due and payable at its stated maturity, upon optional redemption, or upon any required repurchase or upon
declaration of acceleration or otherwise (subject to applicable notice and/or grace periods). Other Events of Default under the Indenture include: the Companys failure to comply with certain corporate restrictions in the Officers
Certificate, the Companys failure to comply (subject to applicable notice and/or grace periods) with any of its other agreements contained in the Notes or the Indenture, the default under other indebtedness of the Company in an amount equal to
or greater than the greater of $50 million or 10% of Consolidated Stockholders Equity (as defined in the Indenture), any final judgment (subject to certain rights of appeal and other limitations) against the Company or any of its
subsidiaries in an amount equal to or greater than the greater of $50 million or 7% of Consolidated Stockholders Equity (as defined in the Indenture) remains unpaid or discharged for 60 days, and certain events of bankruptcy,
insolvency or reorganization.
In certain Event of Defaults, the Trustee by notice to the Company, or the holders of at least 25% in
principal amount of then outstanding Notes by notice to the Company and to the Trustee, may declare 100% of the principal of, and accrued and unpaid interest, if any, on, all then outstanding Notes to be due and payable. Upon such a declaration,
such principal and accrued and unpaid interest, if any, will be due and payable immediately.
The foregoing description of the material
terms of the Officers Certificate is qualified in its entirety by reference to the Officers Certificate which is filed herewith as Exhibit 4.1 and is incorporated herein by reference.
RPM International Inc. (NYSE: RPM) owns subsidiaries that are world leaders in coatings, sealants, building materials and related services. From homes to precious landmarks worldwide, their brands are trusted by consumers and professionals alike to protect, improve and beautify. Among its leading consumer brands are Rust-Oleum, DAP and Zinsser. Learn more about RPM brands >>
RPM is a compelling long-term investment.
The percent by which RPM's 10-year total return has bested the S&P 500. More reasons >>
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