Mandatory Convertible Preferred Stock Offering

Industrial
Mandatory Convertible Preferred Stock Offering

Summary

Baird served as co-manager on this offering

About

Rexnord Corporation (“Rexnord” or the “Company”) (NYSE: RXN) recently completed an offering of 8,050,000 depositary shares, each of which represents a 1/20th interest in a share of its 5.75% Series A Mandatory Convertible Preferred Stock, at a price of $50.00 per depositary share. The offering generated gross proceeds of approximately $402.5 million, including the exercise of the underwriters’ over-allotment option. The Company intends to use the net proceeds from this offering to repay a portion of its outstanding term loan and for general corporate purposes.

Rexnord is comprised of two strategic platforms, Process & Motion Control and Water Management, with approximately 8,000 employees worldwide. The Process & Motion Control platform designs, manufactures, markets and services specified, highly-engineered mechanical components used within complex systems. The Water Management platform designs, procures, manufactures and markets products that provide and enhance water quality, safety, flow control and conservation. Rexnord is headquartered in Milwaukee, Wisconsin.

For additional information about this transaction, please contact:

Joe Packee +1-414-298-7644
Nick Sealy +44-20-7667-8370
Jon Fitzsimmons +1-414-298-2460
Justin Holsen +1-414-298-7768
Industrial
Mandatory Convertible Preferred Stock Offering
Date
December 2016
Company
Rexnord Corporation
Transaction
M&A
Sectors
Industrial
Target Location
North America

Share