SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
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Date of report (Date of earliest event reported): March 10, 2000
Sovereign Specialty Chemicals, Inc.
(Exact name of Registrant as specified in its charter)
Delaware 333-39373 36-4176637
(State of Incorporation) (Commission File No.) (IRS Employer Number)
225 West Washington Street, Suite 2200, Chicago, Illinois 60606
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (312) 419-7100
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Item 5. OTHER EVENTS
On March 10, 2000, Sovereign Specialty Chemicals, Inc. issued a
press release announcing that it is proposing to issue $150 million in
aggregate principal amount of senior subordinated notes due 2010 in a
private placement to qualified institutional investors in accordance with
Securities Exchange Commission Rule 144A and outside of the United States
in accordance with Regulation S under the Securities Act of 1933. A copy of
the press release is attached hereto as Exhibit 99.1.
Item 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL
INFORMATION AND EXHIBITS
(c) Exhibits
Exhibit 99.1 Press Release of Sovereign Specialty
Chemicals, Inc. dated March 10, 2000,
regarding its proposed $150 million
private debt offering.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
SOVEREIGN SPECIALTY CHEMICALS, INC.
(registrant)
By: /s/ John R. Mellett
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John R. Mellett
Vice President and
Chief Financial Officer
Dated: March 13, 2000
EXHIBIT 99.1
SOVEREIGN SPECIALTY CHEMICALS, INC. ANNOUNCES $150 MILLION PRIVATE DEBT
OFFERING
CHICAGO, March 10 /PRNewswire/ -- Sovereign Specialty Chemicals, Inc. today
announced that it is proposing to issue $150 million in aggregate principal
amount of senior subordinated notes due 2010 in a private placement to
qualified institutional investors in accordance with Securities Exchange
Commission Rule 144A and outside of the United States in accordance with
Regulation S under the Securities Act of 1933. Sovereign expects the net
proceeds of this offering will be used to refinance existing indebtedness.
The notes have not been registered under the Securities Act and may not be
offered or sold in the United States absent registration or an applicable
exemption from registration requirements.
Sovereign Specialty Chemicals, Inc. is a leading developer, marketer and
distributor of high-performance specialty adhesives, sealants and coatings
that are utilized in a variety of industrial and commercial applications.
Statements in this press release may include certain forward-looking
statements regarding Sovereign's future plans, sales and earnings growth
potential. Actual results may vary materially because of external factors
such as interest rate fluctuations, changes in consumer spending and other
factors over which management has no control. Additional information about
our products, markets and conditions, which could affect our future
performance, is contained in the Company's filings with the Securities and
Exchange Commission.
