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PPG INDUSTRIES INC — Capital/Financing Update 2008
Mar 13, 2008
30239_rns_2008-03-13_f5481cbb-23fa-45e0-b284-326fb152ee82.zip
Capital/Financing Update
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FWP 1 l30595bfwp.htm PPG INDUSTRIES, INC. FWP PPG Industries, Inc. FWP PAGEBREAK
Final Term Sheet Filed Pursuant to Rule 433 Registration Statement No. 333-145063 March 13, 2008
PPG Industries, Inc.
$600,000,000 5.75% Notes due 2013
$700,000,000 6.65% Notes due 2018
$250,000,000 7.70% Notes due 2038
| Issuer: — Title of Securities: | PPG Industries, Inc. — $600,000,000 5.75% Notes due 2013 | $700,000,000 6.65% Notes due 2018 | $250,000,000 7.70% Notes due 2038 |
|---|---|---|---|
| Long-term Debt Ratings: | Moodys: A3 (stable) / S&P: A- (negative) | ||
| Format: | SEC Registered (No. 333-145063) | ||
| Aggregate Principal Amount Offered: | $600,000,000 | $700,000,000 | $250,000,000 |
| Trade Date: | March 13, 2008 | March 13, 2008 | March 13, 2008 |
| Settlement Date (T+3): | March 18, 2008 | March 18, 2008 | March 18, 2008 |
| Maturity Date: | March 15, 2013 | March 15, 2018 | March 15, 2038 |
| Price to Public: | 99.949% | 99.950% | 99.433% |
| Coupon: | 5.75% | 6.65% | 7.70% |
| Yield to Maturity: | 5.762% | 6.657% | 7.749% |
| Spread to Benchmark Treasury: | T + 325 bps | T + 312.5 bps | T + 330 bps |
| Benchmark Treasury: | 2.75% UST due 2/13 | 3.50% UST due 2/18 | 5.00% UST due 5/37 |
| Benchmark Treasury Yield: | 2.512% | 3.532% | 4.449% |
| Gross Spread: | 0.60% | 0.65% | 0.875% |
| Net Proceeds to the Issuer: | $596,094,000 | $695,100,000 | $246,395,000 |
| Interest Payment Dates: | March 15 and September 15, commencing on September 15, 2008 | March 15 and September 15, commencing on September 15, 2008 | March 15 and September 15, commencing on September 15, 2008 |
| Make-Whole Call: | The greater of par or make-whole at | ||
| Treasury Rate plus 50 bps | The greater of par or make-whole at | ||
| Treasury Rate plus 50 bps | The greater of par or make-whole at | ||
| Treasury Rate plus 50 bps | |||
| CUSIP: | 693506BA4 | 693506BB2 | 693506BC0 |
| Joint Book-Running Managers: | Credit Suisse | ||
| Securities (USA) LLC Deutsche Bank Securities Inc. J.P. Morgan Securities Inc. Morgan Stanley & Co. Incorporated | |||
| Senior Co-Manager: | Mitsubishi UFJ Securities International plc | ||
| Co-Managers: | Banca IMI S.p.A. BNP Paribas Securities Corp. BNY Capital Markets HSBC Bank plc PNC Capital Markets LLC Santander Investment Securities Inc. SG Americas Securities, LLC |
The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov . Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling Credit Suisse Securities (USA) LLC toll-free at 1-800-221-1037, Deutsche Bank Securities Inc. toll free at 1‑800-503-4611, J.P. Morgan Securities Inc. collect at 1-212-834-4533 or Morgan Stanley & Co. Incorporated toll-free at 1-866-718-1649.
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