Dorman Products Launches $450M Private Senior Notes Due 2034
DORM•Dorman Products has commenced a private offering of $450 million aggregate principal amount of senior notes due 2034, with interest rate and terms to be set at pricing. Net proceeds will first repay indebtedness under existing credit facilities, with any remainder allocated for general corporate purposes.
1. Offering Details
Dorman Products announced a private offering of $450.0 million aggregate principal amount of senior notes due 2034. The interest rate and other terms of the notes will be determined at the time of pricing based on market conditions.
2. Guarantee and Security
The notes will be guaranteed by each of Dorman’s existing and future wholly-owned domestic subsidiaries that serve as guarantors under the company’s credit agreement and certain other indebtedness, subject to specified exceptions.
3. Use of Proceeds
Dorman intends to use the net proceeds to repay outstanding balances under its existing credit facilities. Any remaining funds after debt repayment will be applied toward general corporate purposes.
4. Transaction Structure
The offering is being conducted privately under Rule 144A and Regulation S exemptions, targeting qualified institutional buyers and certain non-U.S. persons. The notes and related guarantees will not be registered under the Securities Act or other jurisdictions.
