ServiceMaster
Global Holdings, Inc. (NYSE: SERV) today announced that its
wholly-owned subsidiary, The ServiceMaster Company, LLC (“SvM”), has
priced $750 million aggregate principal amount of 5.125% Senior Notes
due 2024 (the “Notes”). SvM intends to use the net proceeds from the
offering, together with the anticipated net proceeds of a $1,650 million
amended term loan facility maturing 2023, expected to be allocated
Friday, November 4, 2016, to fund the refinancing of its existing term
loan facility and pay related fees and expenses, with the remainder for
general corporate purposes. The offering is expected to close on
November 8, 2016, subject to customary closing conditions.
The Notes will be offered in a private offering exempt from the
registration requirements of the Securities Act of 1933, as amended (the
“Securities Act”). The Notes will be offered only to qualified
institutional buyers pursuant to Rule 144A and to certain persons
outside the United States pursuant to Regulation S, each under the
Securities Act.
The Notes have not been and will not be registered under the 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.
This press release is for informational purposes only and is not an
offer to sell or purchase nor the solicitation of an offer to sell or
purchase securities and shall not constitute an offer, solicitation or
sale in any state or jurisdiction in which, or to any person to whom,
such an offer, solicitation or sale would be unlawful.
Forward-Looking Statements
This press release contains forward-looking statements, including with
respect to our refinancing plans. Some of the forward-looking statements
can be identified by the use of forward-looking terms such as
“believes,” “expects,” “may,” “will,” “shall,” “should,” “would,”
“could,” “seeks,” “aims,” “projects,” “is optimistic,” “intends,”
“plans,” “estimates,” “anticipates,” “proposed” or other comparable
terms. Forward-looking statements are subject to known and unknown risks
and uncertainties, many of which may be beyond our control, including,
without limitation, the risks and uncertainties discussed in the “Risk
Factors” and “Information Regarding Forward-Looking Statements” sections
in the company’s reports filed with the U.S. Securities and Exchange
Commission. We caution you that forward-looking statements are not
guarantees of future performance or outcomes and that actual performance
and outcomes, including, without limitation, our actual results of
operations, financial condition and liquidity, and the development of
the market segments in which we operate, may differ materially from
those made in or suggested by the forward-looking statements contained
in this press release.
Additional factors that could cause actual results and outcomes to
differ from those reflected in forward-looking statements include,
without limitation, lawsuits, enforcement actions and other claims by
third parties or governmental authorities; compliance with, or violation
of environmental health and safety laws and regulations; 401(k) Plan
corrective contribution; the effects of our substantial indebtedness;
changes in interest rates, because a significant portion of our
indebtedness bears interest at variable rates; weakening general
economic conditions; weather conditions and seasonality; the success of
our business strategies, and costs associated with restructuring
initiatives. The company assumes no obligation to update the information
contained herein, which speaks only as of the date hereof.
ServiceMaster Global Holdings, Inc.
Investor Relations:
James Shields, 901-597-6839
James.Shields@servicemaster.com
or
Media:
Peter Tosches, 901-597-8449
Peter.Tosches@servicemaster.com