Welcome to our dedicated page for Allegion news (Ticker: ALLE), a resource for investors and traders seeking the latest updates and insights on Allegion stock.
Allegion plc designs and manufactures security and access solutions for residential, commercial and institutional settings. Its portfolio includes hardware, software and electronic products such as locks, door closers, exit devices, steel doors and frames, access control systems and workforce productivity systems.
Company news commonly covers quarterly results, revenue outlook, organic growth, acquisition and divestiture effects, dividends and share repurchase actions. Product updates focus on electronic access control, mobile credentials, data-center security applications, design and specification tools, and brand activity across CISA, Interflex, LCN, Schlage, SimonsVoss and Von Duprin.
Allegion (NYSE: ALLE) will participate in the 2024 KeyBanc Capital Markets Industrials & Basic Materials Conference. Senior Vice President and CFO Mike Wagnes will discuss the company's long-term strategy at the event. The conference is scheduled for Wednesday, May 29, at the InterContinental Hotel in Boston.
Allegion, a global security products and solutions provider, announced the pricing of $400 million of 5.600% senior unsecured notes due 2034 by its subsidiary, Allegion US Holding Company. The offering is expected to close on May 29, 2024, subject to customary closing conditions. The net proceeds will be used to repay $400 million of 3.200% senior notes maturing on October 1, 2024. BofA Securities, Citigroup Global Markets, and Wells Fargo Securities are among the joint book-running managers for the offering. The notes will be guaranteed by Allegion upon issuance.
Allegion (NYSE: ALLE) has extended and increased its senior unsecured revolving credit facility to $750 million from the previous $500 million. This new five-year facility, which remains unsecured and maintains investment-grade terms, enhances Allegion's liquidity. It allows for revolving loans, letters of credit, and swingline loans in USD, Euro, and GBP. The term loan facility, with $221.9 million outstanding as of March 31, 2024, remains unchanged and will mature on November 18, 2026. The commitment under the new facility will terminate on May 20, 2029, according to Mike Wagnes, Allegion's CFO.
Allegion (NYSE: ALLE) announced the expansion of its Schlage Indication Solutions portfolio, adding three new lines of indication trims designed for K-12 and higher education, as well as healthcare and privacy applications. The new trims feature 180-degree visibility, tamper-resistance, and large viewing windows for enhanced security and peace of mind. Built to withstand high-abuse environments, they achieve a Grade 1 BHMA rating, offering top-tier durability and reliability. These solutions also cater to dual indication needs, making them suitable for various settings like hospitals and retail. The new trims are available in multiple finishes and lever designs and are now ready for purchase.
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