Atlanta, Oct. 27, 2020 (GLOBE NEWSWIRE) -- Acuity Brands, Inc. (NYSE: AYI) announced today that its wholly-owned operating subsidiary, Acuity Brands Lighting, Inc., has launched an offering of senior unsecured notes. The notes will be fully and unconditionally guaranteed by the Company and ABL IP Holding LLC (“ABL IP Holding”), a wholly-owned subsidiary of ABL. The exact amount, terms and timing of the offering will depend upon market conditions and other factors.

The Company intends to use the net proceeds from the offering of the notes to prepay all of the outstanding borrowings under ABL’s senior unsecured term loan and for general corporate purposes.

BofA Securities, Inc. and J.P. Morgan Securities LLC are acting as joint book-running managers of the offering of notes.

ABL has filed a registration statement (including a prospectus dated October 23, 2020 and a preliminary prospectus supplement dated October 27, 2020) with the Securities and Exchange Commission (the “SEC”) for the offering of the notes. Prospective investors should read the prospectus in the registration statement, the preliminary prospectus supplement and other documents the Company has filed with the SEC for more complete information about the Company, ABL, ABL IP Holding and the offering. These documents are available for free by visiting EDGAR on the SEC’s website at sec.gov. Alternatively, copies may be obtained from BofA Securities, Inc. at 1-800-294-1322, or J.P. Morgan Securities LLC at 1-212-834-4533.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities, in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Acuity Brands

Acuity Brands, Inc. (NYSE: AYI) is a market-leading industrial technology company. The Company designs, manufactures, and brings to market products and services that make the world more brilliant, productive, and connected including building management systems, lighting, lighting controls, and location-aware applications. Acuity Brands achieves growth through the development of innovative new products and services.

Through the Acuity Business System, Acuity Brands achieves customer-focused efficiencies that allow the Company to increase market share and deliver superior returns. The Company looks to aggressively deploy capital to grow the business and to enter attractive new verticals.

Acuity Brands is based in Atlanta, Georgia, with operations across North America, Europe, and Asia. The Company is powered by over 10,000 dedicated and talented associates.