PITTSBURGH (AP) — Paint and industrial coatings maker PPG Industries Inc. said Tuesday it priced $1 billion in senior notes with maturities ranging from six to 30 years.
PPG plans to use the offering proceeds to repay a $400 million term loan, to contribute to employee pension plans, to fund certain asbestos claims, and for other general corporate purposes.
Goldman, Sachs & Co., JPMorgan Securities LLC and Morgan Stanley & Co. are book-running managers for the offering.
The sale of the notes is expected to close on or about Nov. 12.
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