3 December 2021
II-VI announces proposed $990m offering of notes
Engineered materials and optoelectronic component maker II-VI Inc of Saxonburg, PA, USA plans to offer $990m aggregate principal amount of senior notes due 2029 in a private transaction exempt from the registration requirements of the Securities Act of 1933, as amended. The notes will be guaranteed by each of the company’s material wholly owned domestic subsidiaries, subject to customary exceptions.
The firm intends to use the proceeds from the offering to fund the cash consideration, the repayment of certain indebtedness and certain fees and expenses in connection with its pending business combination with Coherent Inc of Santa Clara, CA (which provides lasers and laser-based technology for scientific, commercial and industrial applications), pursuant to an agreement and plan of merger of 25 March, by and among the company, Coherent and Watson Merger Sub Inc (a subsidiary of the company).