Post Holdings Announces Commencement of Senior Notes Offering

Rhea-AI Summary

Post Holdings, Inc. (NYSE: POST) announced plans for a private offering of $300 million in 4.625% senior notes due 2030. This offering is part of an existing indenture that previously included $1,250 million in notes. The proceeds are intended for general corporate purposes, including working capital and potential acquisitions. The notes will be unsecured and guaranteed by significant domestic subsidiaries. The offering is exempt from registration under the Securities Act and is aimed at qualified institutional buyers.

Positive

• Offering of $300 million in senior notes provides additional capital for corporate uses.
• Proceeds could be used for share repurchases and acquisitions, enhancing shareholder value.

Negative

• Offering is subject to market conditions, which may impact the final amount.
• Forward-looking statements indicate uncertainty surrounding the completion of the offering.

ST. LOUIS, Aug. 11, 2020 (GLOBE NEWSWIRE) -- Post Holdings, Inc. (NYSE:POST) (the “Company” or “Post”) today announced it intends to commence a private offering to eligible purchasers, subject to market and other conditions, of $300.0 million in aggregate principal amount of 4.625% senior notes due 2030 (the “Notes”).

The Notes are being offered as additional notes under an existing indenture pursuant to which the Company previously issued $1,250.0 million in aggregate principal amount of 4.625% senior notes due 2030 (the “Existing Notes”). The Notes to be issued in this offering will vote together with and will constitute part of the same series as the Existing Notes. The Notes will be unsecured unsubordinated obligations of the Company and will be guaranteed by the Company’s material domestic subsidiaries (other than certain excluded subsidiaries).

The Company intends to use the net proceeds from the proposed offering for general corporate purposes, which could include, among other things, working capital, share repurchases, capital expenditures and financing acquisitions. The final amounts of the Notes are subject to market and other conditions, and may be materially different than expectations.

The Notes and the related subsidiary guarantees are being offered to persons reasonably believed to be qualified institutional buyers in an offering exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and to non-U.S. persons outside of the United States in compliance with Regulation S under the Securities Act. The Notes and the related subsidiary guarantees have not been registered under the Securities Act, or any state securities laws, and unless so registered, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws.

This press release is not an offer to sell or a solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering, solicitation or sale would be unlawful. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act.

Cautionary Statement on Forward-Looking Language

Forward-looking statements, within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended, are made throughout this press release. These forward-looking statements are sometimes identified from the use of forward-looking words such as “believe,” “should,” “could,” “potential,” “continue,” “expect,” “project,” “estimate,” “predict,” “anticipate,” “aim,” “intend,” “plan,” “forecast,” “target,” “is likely,” “will,” “can,” “may” or “would” or the negative of these terms or similar expressions elsewhere in this release. All forward-looking statements are subject to a number of important factors, risks, uncertainties and assumptions that could cause actual results to differ materially from those described in any forward-looking statements. These factors and risks include, but are not limited to, unanticipated developments that prevent, delay or negatively impact the offering, the rapidly changing situation related to the COVID-19 pandemic and other financial, operational and legal risks and uncertainties detailed from time to time in the Company’s cautionary statements contained in its filings with the Securities and Exchange Commission. These forward-looking statements represent the Company’s judgment as of the date of this press release. The Company disclaims, however, any intent or obligation to update these forward-looking statements. There can be no assurance that the proposed offering will be completed as anticipated or at all.  

About Post Holdings, Inc.

Post Holdings, Inc., headquartered in St. Louis, Missouri, is a consumer packaged goods holding company operating in the center-of-the-store, refrigerated, foodservice, food ingredient and convenient nutrition food categories.

Contact:
Investor Relations
Jennifer Meyer
jennifer.meyer@postholdings.com
(314) 644-7665

FAQ

What is the purpose of Post Holdings' $300 million note offering?

The offering aims to raise capital for general corporate purposes such as working capital, share repurchases, and acquisitions.

When is the maturity date of the senior notes issued by Post Holdings?

The senior notes are due in 2030.

Who is eligible to participate in Post Holdings' note offering?

The offering is targeted at qualified institutional buyers and non-U.S. persons outside the United States.

What are the interest rates for the senior notes offered by Post Holdings?

The notes will carry an interest rate of 4.625%.

Is the offering of senior notes by Post Holdings registered?

No, the notes are offered under an exemption from registration and have not been registered under the Securities Act.