PITTSBURGH, Jan. 20, 2017 /PRNewswire/ -- Koppers Inc., a
wholly-owned subsidiary of Koppers Holdings Inc. (NYSE: KOP), announced today the pricing of its $500
million aggregate principal amount of 6.00% Senior Notes due 2025 (the "Notes") at an issue price of 100% of principal
amount. The size of the offering was increased by $100 million from the previously announced
offering size of $400 million. The Notes will pay interest semi-annually in arrears on February 15 and August 15 beginning on August 15,
2017 and will mature on February 15, 2025 unless earlier redeemed or repurchased. The Notes
will be guaranteed by Koppers Holdings Inc. and certain of Koppers Inc.'s domestic subsidiaries. The net proceeds of this
offering are intended to be used to repurchase any and all of Koppers Inc.'s outstanding $300
million Senior Notes due 2019 (the "2019 Notes") and to pay related fees and expenses in connection with its previously
announced tender offer and consent solicitation, to redeem any of the 2019 Notes that remain outstanding if Koppers Inc.
purchases less than all of the outstanding 2019 Notes in the tender offer and consent solicitation, and to repay outstanding debt
under Koppers Inc.'s existing senior secured credit facilities. The sale of the Notes to the initial purchasers is expected to
settle on January 25, 2017.
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The Notes and the related guarantees are being offered by the initial purchasers only to persons reasonably believed to be
qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the "Securities Act") or,
outside the United States, to persons other than "U.S. persons" in compliance with Regulation S
under the Securities Act. The Notes and the related guarantees have not been and will not be registered under the Securities Act
or the securities laws of any other jurisdiction and may not be offered or sold in the United
States absent registration or an applicable exemption from, or in a transaction not subject to, registration
requirements.
Koppers Holdings Inc. also announced today that based on the upsized offering of Notes, Koppers Inc. currently anticipates
that its previously-announced new credit agreement, if consummated, would provide for a senior secured revolving credit facility
of up to $400.0 million (the "New Senior Secured Credit Facility"). If consummated, the New Senior
Secured Credit Facility would refinance Koppers Inc.'s existing senior secured revolving credit facility that matures on
August 15, 2019. The completion of negotiations and closing of the New Senior Secured Credit
Facility are subject to numerous contingencies and conditions, including, without limitation, the receipt of commitments from the
lending banks, and the completion of the offering of Notes and the previously announced tender offer and consent solicitation
described above. There is no guarantee that the New Senior Secured Credit Facility will be completed or on what terms.
This news release shall not constitute an offer to sell, or the solicitation of an offer to buy, any securities, nor shall
there be any sales of securities mentioned in this news release in any jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
About Koppers
Koppers, with corporate headquarters in Pittsburgh, Pennsylvania, is an integrated
global provider of treated wood products, wood treatment chemicals and carbon compounds. Our products and services are used in a
variety of niche applications in a diverse range of end-markets, including the railroad, specialty chemical, utility, residential
lumber, agriculture, aluminum, steel, rubber, and construction industries. Including our joint ventures, we serve our customers
through a comprehensive global manufacturing and distribution network, with facilities located in North
America, South America, Australasia, China and
Europe. The stock of Koppers Holdings Inc. is publicly traded on the New York Stock Exchange
under the symbol "KOP." For more information, visit us on the Web: www.koppers.com. Questions concerning investor relations should be directed to Michael J.
Zugay at 412 227 2231 or Quynh McGuire at 412 227 2049.
Safe Harbor Statement
Certain statements in this news release are "forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995 and may include, but are not limited to, statements about sales levels, acquisitions,
restructuring, declines in the value of Koppers assets and the effect of any resulting impairment charges, profitability and
anticipated expenses and cash outflows. All forward-looking statements involve risks and uncertainties. All statements contained
herein that are not clearly historical in nature are forward-looking, and words such as "believe," "anticipate," "expect,"
"estimate," "may," "will," "should," "continue," "plans," "potential," "intends," "likely," or other similar words or phrases are
generally intended to identify forward-looking statements. Any forward-looking statement contained herein, in other news
releases, written statements or other documents filed with the Securities and Exchange Commission, or in Koppers communications
with and discussions with investors and analysts in the normal course of business through meetings, phone calls and conference
calls, regarding expectations with respect to sales, earnings, cash flows, operating efficiencies, restructurings, the benefits
of acquisitions, divestitures, joint ventures or other matters as well as financings and debt reduction, are subject to known and
unknown risks, uncertainties and contingencies. Many of these risks, uncertainties and contingencies are beyond our control, and
may cause actual results, performance or achievements to differ materially from anticipated results, performance or achievements.
Factors that might affect such forward-looking statements, include, among other things, the impact of changes in commodity
prices, such as oil and copper, on product margins; general economic and business conditions; potential difficulties in
protecting our intellectual property; the ratings on our debt and our ability to repay or refinance our outstanding indebtedness
as it matures; our ability to operate within the limitations of our debt covenants; potential impairment of our goodwill and/or
long-lived assets; demand for Koppers goods and services; competitive conditions; interest rate and foreign currency rate
fluctuations; availability and costs of key raw materials; unfavorable resolution of claims against us, as well as those
discussed more fully elsewhere in this release and in documents filed with the Securities and Exchange Commission by Koppers,
particularly our latest annual report on Form 10-K and quarterly report on Form 10-Q. Any forward-looking statements in this
release speak only as of the date of this release, and we undertake no obligation to update any forward-looking statement to
reflect events or circumstances after that date or to reflect the occurrence of unanticipated events.
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SOURCE Koppers Holdings Inc.