Hexcel Prices $300 Million of 5.875% Senior Notes Due 2035
February 11 2025 - 4:37PM
Business Wire
Hexcel Corporation (NYSE: HXL) today priced an offering of $300
million of unsecured 5.875% Senior Notes due 2035. The notes will
be sold at a price of 99.985% of their face value.
The net proceeds from this offering are estimated to be
approximately $298 million. Hexcel intends to use the net proceeds
from the offering to fund the redemption of its unsecured 4.700%
Senior Notes due 2025, of which $300 million was outstanding as of
the date hereof.
The offering is expected to close on February 26, 2025, subject
to customary closing conditions. BofA Securities, Inc., Goldman
Sachs & Co. LLC and J.P. Morgan Securities LLC are acting as
joint book-running managers for the offering.
This offering of notes may be made only by means of a prospectus
supplement and a prospectus. A copy of the prospectus supplement
and the prospectus relating to the offering will be filed with the
Securities and Exchange Commission and, when available, can be
obtained from: (i) BofA Securities, Inc., NC1-022-02-25, 201 North
Tryon Street, Charlotte, NC 28255-0001, Attention: Prospectus
Department, by phone at (800) 294-1322 or by email at
dg.prospectus_requests@bofa.com; (ii) Goldman Sachs & Co. LLC,
Attention: Prospectus Department, 200 West Street, New York, NY
10282, by phone at (866) 471-2526, by facsimile at (212) 902-9316
or by email at prospectus-ny@ny.email.gs.com; or (iii) J.P. Morgan
Securities LLC, c/o Broadridge Financial Solutions, 1155 Long
Island Avenue, Edgewood, NY 11717 or by email at
prospectus-eq_fi@jpmchase.com and
postsalemanualrequests@broadridge.com.
This communication shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification thereof under the securities laws of any such state
or jurisdiction.
Disclaimer on Forward-Looking Statements This press release
contains statements that are forward-looking, including statements
relating to analyses and other information that are based on
forecasts of future results and estimates of amounts not yet
determinable. Actual results may differ materially from the results
anticipated in the forward-looking statements due to a variety of
factors, including but not limited to general economic and business
conditions and the ability of Hexcel to complete the offering and
deploy the resulting proceeds as indicated above, including the
risk that the offering described above will not close on the
indicated timetable or at all, and that the proceeds may not be
able to be deployed as so indicated. Additional risk factors are
described in Hexcel’s filings with the Securities and Exchange
Commission. Hexcel does not undertake an obligation to update its
forward-looking statements to reflect future events or
circumstances, except as otherwise required by law.
About Hexcel Hexcel Corporation is a global leader in
advanced lightweight composites technology. We propel the future of
flight, energy generation, transportation, and recreation through
excellence in providing innovative high-performance material
solutions that are lighter, stronger and tougher, helping to create
a better world for us all. Our broad and unrivaled product range
includes carbon fiber, specialty reinforcements, prepregs and other
fiber-reinforced matrix materials, honeycomb, resins, engineered
core and composite structures for use in commercial aerospace,
space and defense, and industrial applications.
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version on businesswire.com: https://www.businesswire.com/news/home/20250211771734/en/
Kurt Goddard | Vice President Investor Relations |
Kurt.Goddard@Hexcel.com | +1 (203) 352-6826
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