SWK Holdings Co. 9.00% Senior Notes due 2027 (NASDAQ: SWKHL) are senior, secured obligations issued by SWK Holdings Co., a direct financing subsidiary of Stanley Black & Decker, Inc. The notes were issued in 2017 with an annual interest rate of 9.00%, payable semiannually, and mature in October 2027. They rank equally with all existing and future senior secured indebtedness of the issuer and are senior in right of payment to all of its subordinated obligations.
The net proceeds from the offering were used to refinance existing indebtedness, fund strategic share repurchases and acquisitions, and support general corporate purposes across the Stanley Black & Decker group. The notes are guaranteed by certain domestic subsidiaries of Stanley Black & Decker and secured by a first-priority pledge of equity interests in substantially all of the guarantors. The indenture also contains customary covenants, including restrictions on liens, limitations on asset sales and requirements to maintain certain financial ratios.
SWK Holdings Co. itself does not conduct operating activities; rather, it serves as the financing vehicle within the Stanley Black & Decker corporate structure. Stanley Black & Decker, formed by the merger of The Stanley Works and Black & Decker in 2010, is a global diversified industrial company. The group operates through segments such as Tools & Outdoor, Industrial Technologies and Security, serving professional, industrial and consumer markets across North America, Europe, Asia and other regions worldwide.
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