King & Spalding LLP advised Acuity Brands, Inc. on the deal.
Acuity Brands, Inc. (NYSE: AYI) as the company, through its wholly-owned operating subsidiary, Acuity Brands Lighting, Inc. (“ABL”), completed an underwritten public offering of $500 million aggregate principal amount of ABL’s 2.150% senior notes due 2030, generating approximately $495.4 million in proceeds to the company, before expenses. The notes are fully and unconditionally guaranteed by Acuity Brands and ABL IP Holding LLC, a wholly-owned subsidiary of ABL. The proceeds from the offering will be used to repay outstanding indebtedness and for general corporate purposes.
Acuity Brands is a market-leading industrial technology company that designs, manufactures, and brings to market innovative products and services for commercial, institutional, industrial, infrastructure, and residential applications throughout North America and select international markets. Acuity Brands’ products include building management systems, lighting, lighting controls, and location aware applications.
The King & Spalding team was led by Keith M. Townsend (Picture) and also included Elizabeth Morgan, Kevin Manz, Martin Oberst, Rami Chahine, James Ryan Lichtenfels and Russell B. Richards.
Involved fees earner: Rami Chahine – King & Spalding; James Ryan Lichtenfels – King & Spalding; Kevin Manz – King & Spalding; Elizabeth Morgan – King & Spalding; Martin Oberst – King & Spalding; Russell Richards – King & Spalding; Keith Townsend – King & Spalding;
Law Firms: King & Spalding;
Clients: Acuity Brands ;