Rollins, Inc. Announces Pricing of its $500 Million of 5.25% Senior Notes due 2035
Rhea-AI Summary
Rollins (NYSE: ROL) has announced the pricing of $500 million in Senior Notes with a 5.25% interest rate, due in 2035. The notes offering, expected to close on February 24, 2025, is being made to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S of the Securities Act.
The company plans to use the proceeds primarily to repay existing debt under its senior credit facility, along with general corporate purposes including dividends, share repurchases, acquisitions, working capital, and capital expenditures. The Notes will be guaranteed by Rollins' subsidiaries that are guarantors under its senior credit facility.
Positive
- Secured $500 million in long-term financing through Senior Notes
- Debt restructuring opportunity through repayment of existing credit facility
- Flexibility for strategic initiatives including acquisitions and share repurchases
Negative
- Taking on new long-term debt with 5.25% interest rate through 2035
- Increased interest expense will impact future cash flows
News Market Reaction – ROL
On the day this news was published, ROL gained 1.12%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
The Notes will not be registered under the Securities Act or the securities laws of any state or any other jurisdiction and may not be offered or sold in
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities nor will there be any sales of the Notes in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. This notice is being issued pursuant to and in accordance with Rule 135c of the Securities Act.
About Rollins
Rollins, Inc. (ROL) is a premier global consumer and commercial services company. Through its family of leading brands, the Company and its franchises provide essential pest control services and protection against termite damage, rodents, and insects to more than 2.8 million customers in
Cautionary Statement Regarding Forward-Looking Statements
This press release as well as other written or oral statements by the Company may contain "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. We have based these forward-looking statements on our current opinions, expectations, intentions, beliefs, plans, objectives, assumptions and projections about future events and financial trends affecting the operating results and financial condition of our business. Although we believe that these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions, or expectations. Generally, statements that do not relate to historical facts, including statements concerning possible or assumed future actions, business strategies, events or results of operations, are forward-looking statements. The words "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "possible," "potential," "predict," "should," "will," "would," and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.
These forward-looking statements are based on information available as of the date of this press release, and current expectations, forecasts, and assumptions, and involve a number of judgments, risks and uncertainties. Important factors could cause actual results to differ materially from those indicated or implied by forward-looking statements including, but not limited to, those set forth in the sections entitled "Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and may also be described from time to time in our future reports filed with the SEC.
Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required by law.
Contact
Investor Relations
InvestorRelations@rollins.com
(404) 888-2000
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SOURCE Rollins, Inc.
FAQ
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