PITTSBURGH -- PPG Industries announced that yesterday it priced $1 billion in aggregate principal amount of senior notes. The sale of the notes is expected to close on or about Nov. 12, subject to customary closing conditions.

Of the amount offered, $250 million of 1.9 percent senior notes will be due Jan. 15, 2016, $500 million of 3.6 percent senior notes will be due Nov. 15, 2020, and $250 million of 5.5 percent senior notes will be due Nov. 15, 2040. The senior notes are unsecured and will rank equally in right of payment with PPG’s existing and future unsecured senior indebtedness.

PPG said it intends to use the net proceeds from the offering to repay a $400 million term loan, to contribute to employee pension plans, to fund certain asbestos claims and for other general corporate purposes.

Goldman, Sachs & Co., J.P. Morgan Securities LLC and Morgan Stanley & Co. Incorporated are acting as joint book-running managers for the offering.