Allegion’s $400 Million Senior Notes Offering

Simpson Thacher advised Allegion plc on its recent registered offering of $400 million aggregate principal amount of 3.5% Senior Notes due 2029.

The notes were issued September 27, 2019, and are guaranteed by Allegion US Holding Company Inc. Allegion used all of the net proceeds from the offering to repay borrowings under its term loan facility. BofA Securities, Inc., Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC acted as joint book-running managers of the offering.

Allegion is a global pioneer in seamless access, with leading brands like CISA®, Interflex®, LCN®, Schlage®, SimonsVoss® and Von Duprin®. Focusing on security around the door and adjacent areas, Allegion secures people and assets with a range of solutions for homes, businesses, schools and institutions. Allegion had $2.7 billion in revenue in 2018, and sells products in almost 130 countries.

The Simpson Thacher team included Josh Bonnie (Picture), Jon Pacheco, Sarah Ali, Claire DiMario and Jesse Schulman (Capital Markets – D.C.); Jeanne Annarumma and Patricia Adams (Executive Compensation and Employee Benefits); Rob Holo and Nicole Humphrey (Tax); and Adeeb Fadil (Environmental).

Involved fees earner: Patricia Adams – Simpson Thacher & Bartlett; Sarah Ali – Simpson Thacher & Bartlett; Jeanne Annarumma – Simpson Thacher & Bartlett; Claire DiMario – Simpson Thacher & Bartlett; Adeeb Fadil – Simpson Thacher & Bartlett; Joshua Ford Bonnie – Simpson Thacher & Bartlett; Robert Holo – Simpson Thacher & Bartlett; Nicole Humphrey – Simpson Thacher & Bartlett; Jonathan Pacheco – Simpson Thacher & Bartlett; Jesse Schulman – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Allegion plc;

Author: Ambrogio Visconti