Harbinger Group Inc. ("HGI" or the "Company") announced that on January
15, 2014, it priced an offering of $200 million aggregate principal
amount of its 7.750% senior unsecured notes due 2022 (CUSIP No.: 41146A
AG1 / ISIN: US41146AAG13 (Rule 144A) and CUSIP No.: U24520 AE5 / ISIN:
USU24520AE57 (Regulation S)). The notes were priced at 100% of par with
a coupon of 7.750%. The notes will mature on January 15, 2022. The
offering is expected to close on or about January 21, 2014. The Company
expects to use the net proceeds from the issuance of the notes for
working capital by it and its subsidiaries and for general corporate
purposes, including the financing of future acquisitions and businesses.
The notes were offered to qualified institutional buyers pursuant to
Rule 144A under the Securities Act of 1933, as amended (the "Securities
Act"), and to persons outside the United States under Regulation S of
the Securities Act.
The notes offered in this offering have not been registered under the
Securities Act or any state securities laws and, unless so registered,
may not be offered or sold in the United States except pursuant to an
applicable exemption from the registration requirements of the
Securities Act and applicable state securities laws.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy the notes, nor shall there be any offer,
solicitation or sale of any notes in any jurisdiction in which such
offer, solicitation or sale would be unlawful.
About Harbinger Group Inc.
Harbinger Group Inc. ("HGI") is a diversified holding company. HGI's
principal operations are conducted through companies that: offer life
insurance and annuity products; branded consumer products (such as
consumer batteries, residential locksets, residential builders'
hardware, faucets, shaving and grooming products, personal care
products, small household appliances, specialty pet supplies, lawn,
garden and home pest control products, personal insect repellents);
provide asset-backed loans; and own energy assets. HGI is principally
focused on acquiring controlling and other equity stakes in businesses
across a diversified range of industries and growing its existing
businesses. In addition to HGI's intention to acquire controlling equity
interests, HGI may also make investments in debt instruments and acquire
minority equity interests in companies. HGI is headquartered in New York
and traded on the New York Stock Exchange under the symbol HRG.
Forward Looking Statements
"Safe Harbor" Statement Under the Private Securities Litigation Reform
Act of 1995: This release contains, and certain oral statements made by
our representatives from time to time may contain, forward-looking
statements, including those statements regarding the commencement or
completion of the offering. These statements are based on the beliefs
and assumptions of HGI's management and the management of HGI's
subsidiaries (including target businesses). Generally, forward-looking
statements include information describing the offering and other
actions, events, results, strategies and expectations and are generally
identifiable by use of the words "believes," "expects," "intends,"
"anticipates," "plans," "seeks," "estimates," "projects," "may," "will,"
"could," "might," or "continues" or similar expressions. Factors that
could cause actual results, events and developments to differ include,
without limitation, capital market conditions, the ability of HGI's
subsidiaries (including, target businesses following their acquisition)
to generate sufficient net income and cash flows to make upstream cash
distributions, HGI and its subsidiaries ability to identify any suitable
future acquisition opportunities, efficiencies/cost avoidance, cost
savings, income and margins, growth, economies of scale, combined
operations, future economic performance, conditions to, and the
timetable for, completing the integration of financial reporting of
acquired or target businesses with HGI or HGI subsidiaries, completing
future acquisitions and dispositions, litigation, potential and
contingent liabilities, management's plans, changes in regulations,
taxes and the risks that may affect the performance of the operating
subsidiaries of HGI and those factors listed under the caption "Risk
Factors" in HGI's most recent Annual Report on Form 10-K, filed with the
Securities and Exchange Commission. All forward-looking statements
described herein are qualified by these cautionary statements and there
can be no assurance that the actual results, events or developments
referenced herein will occur or be realized. HGI does not undertake any
obligation to update or revise forward-looking statements to reflect
changed assumptions, the occurrence of unanticipated events or changes
to future operation results.
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