PITTSBURGH--(BUSINESS WIRE)--PPG (NYSE:PPG) announced today that it has priced a public offering of 300 million euros aggregate principal amount of 0.000% notes due 2019 at an issue price of 99.632% of the principal amount and 600 million euros aggregate principal amount of 0.875% notes due 2025 (the “2025 Notes” and, together with the 2019 Notes, the “Notes”) at an issue price of 98.836% of the principal amount.
The issuance of the Notes is expected to close on or about Nov. 3, 2016, subject to customary closing conditions. The Notes will pay interest on an annual basis.
PPG plans to use the net proceeds of the offering for general corporate purposes.
The joint book-running managers for the offering are J.P. Morgan Securities plc, BNP Paribas and MUFG Securities EMEA plc.