Post Holdings Announces Pricing of Senior Notes Offering
Post Holdings (NYSE:POST) announced the pricing of its $1,200.0 million senior notes offering with a 6.375% interest rate due in 2033. The offering is expected to close on August 22, 2024, pending customary conditions. The notes, guaranteed by Post's domestic subsidiaries, are to finance a cash tender offer for up to $475.0 million of its existing 5.625% senior notes due 2028 and repay borrowings under its revolving credit facility. Remaining proceeds will be used for general corporate purposes like acquisitions, share repurchases, and debt repayment. The notes will be offered to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S. Not registered under the Securities Act, these notes cannot be offered or sold in the U.S. without an exemption. This release is not a solicitation nor a sale offer.
Post Holdings (NYSE:POST) ha annunciato il prezzo della sua emissione di note senior da 1.200,0 milioni di dollari con un tasso d'interesse del 6,375% in scadenza nel 2033. Si prevede che l'offerta si chiuda il 22 agosto 2024, subordinatamente alle condizioni consuete. Le note, garantite dalle sussidiarie domestiche di Post, serviranno a finanziare un'offerta pubblica di acquisto per un massimo di 475,0 milioni di dollari delle sue attuali note senior 5,625% in scadenza nel 2028 e a rimborsare i prestiti nel suo credito revolving. I proventi rimanenti saranno utilizzati per scopi aziendali generali come acquisizioni, riacquisti di azioni e rimborso dei debiti. Le note saranno offerte a compratori istituzionali qualificati ai sensi della Regola 144A e a persone non statunitensi ai sensi della Regolamentazione S. Non registrate ai sensi del Securities Act, queste note non possono essere offerte o vendute negli Stati Uniti senza un'esenzione. Questo comunicato non è una sollecitazione né un'offerta di vendita.
Post Holdings (NYSE:POST) anunció la precio de su oferta de notas senior por 1,200.0 millones de dólares con un tasa de interés del 6.375% con vencimiento en 2033. Se espera que la oferta se cierre el 22 de agosto de 2024, sujeto a condiciones habituales. Las notas, garantizadas por las subsidiarias nacionales de Post, se utilizarán para financiar una oferta pública de adquisición de hasta 475.0 millones de dólares de sus notas senior 5.625% con vencimiento en 2028 y para pagar los préstamos bajo su línea de crédito revolvente. Los ingresos restantes se utilizarán para fines corporativos generales como adquisiciones, recompra de acciones y pago de deudas. Las notas se ofrecerán a compradores institucionales calificados bajo la Regla 144A y a personas no estadounidenses bajo la Regulación S. No están registradas bajo la Ley de Valores, estas notas no pueden ser ofrecidas ni vendidas en EE. UU. sin una exención. Este comunicado no es una solicitud ni una oferta de venta.
포스트 홀딩스 (NYSE:POST)는 1,200.0 백만 달러의 6.375% 이자율이 있는 선순위 노트 발행에 대한 가격을 발표했습니다. 이 발행은 2024년 8월 22일에 일반적인 조건이 충족되면 마감될 것으로 예상됩니다. 이 노트는 포스트의 국내 자회사에 의해 보증되며, 현재 2028년 만기 5.625% 선순위 노트의 최대 475.0 백만 달러에 대한 현금 인수 제안을 금융하기 위해 사용될 것이며 회전 신용 시설에 대한 차입금을 상환하는 데 사용됩니다. 나머지 수익은 인수, 자사주 매입 및 부채 상환과 같은 일반적인 기업 목적으로 사용됩니다. 이 노트는 규칙 144A에 따라 자격이 있는 기관 투자자들에게 제공되며, 규제 S에 따라 비 미국인에게 제공됩니다. 이 노트는 증권법에 따라 등록되지 않으며, 면제 없이 미국에서 제공되거나 판매될 수 없습니다. 이 보도 자료는 요청이나 판매 제안이 아닙니다.
Post Holdings (NYSE:POST) a annoncé le tarif de son émission de notes senior d'un montant de 1,200.0 millions de dollars avec un taux d'intérêt de 6,375% échéant en 2033. L'émission devrait se clôturer le 22 août 2024, sous réserve de conditions habituelles. Les notes, garanties par les filiales nationales de Post, serviront à financer une offre d'achat en espèces allant jusqu'à 475.0 millions de dollars de ses notes senior de 5,625% échéantes en 2028 et à rembourser les emprunts sous sa facilité de crédit renouvelable. Les fonds restants seront utilisés à des fins d'entreprise générales telles que des acquisitions, des rachats d'actions et le remboursement de dettes. Les notes seront offertes à des acheteurs institutionnels qualifiés en vertu de la règle 144A et à des personnes non américaines sous la réglementation S. Non enregistrées en vertu de la Loi sur les valeurs mobilières, ces notes ne peuvent être offertes ou vendues aux États-Unis sans exemption. Ce communiqué ne constitue pas une sollicitation ni une offre de vente.
Post Holdings (NYSE:POST) gab die Preisgestaltung für seine 1.200,0 Millionen Dollar schweren Senior Notes mit einem Zinssatz von 6,375%, fällig im Jahr 2033, bekannt. Die Emission soll voraussichtlich am 22. August 2024 abgeschlossen werden, vorbehaltlich üblicher Bedingungen. Die Notes, die von den inländischen Tochtergesellschaften von Post garantiert werden, dienen der Finanzierung eines Barkaufangebots für bis zu 475,0 Millionen Dollar seiner bestehenden 5,625% Senior Notes, die im Jahr 2028 fällig sind, und der Rückzahlung der Darlehen aus seiner revolvierenden Kreditfazilität. Die verbleibenden Mittel werden für allgemeine Unternehmenszwecke wie Akquisitionen, Aktienrückkäufe und Schuldenrückzahlungen verwendet. Die Notes werden qualifizierten institutionellen Käufern gemäß Regel 144A und nicht-US-Personen gemäß Regulierung S angeboten. Diese Notes sind nicht gemäß dem Wertpap Gesetz registriert und dürfen in den USA ohne Ausnahme nicht angeboten oder verkauft werden. Diese Mitteilung ist weder eine Aufforderung noch ein Verkaufsangebot.
- $1,200.0 million senior notes offering priced at 6.375% due 2033.
- Proceeds to finance the cash tender offer for up to $475.0 million of 5.625% senior notes due 2028.
- Remaining proceeds to be used for general corporate purposes, potentially including acquisitions and share repurchases.
- Notes offering not conditioned on the consummation of the Tender Offer.
- Potential risks associated with market conditions affecting final terms and amounts of the Notes.
Insights
Post Holdings'
The company's ability to secure this large offering suggests investor confidence in Post's financial health. However, the increased interest expense will impact profitability. Investors should monitor how effectively Post utilizes any remaining proceeds for "general corporate purposes," as this could influence future growth and financial flexibility.
This debt refinancing by Post Holdings is indicative of broader market trends where companies are securing longer-term debt at fixed rates, anticipating potential future interest rate fluctuations. The
The move to retire shorter-term debt and potentially fund acquisitions or share repurchases signals Post's strategic focus on long-term growth and shareholder value. However, investors should be aware that increased debt, even if better structured, may impact the company's financial ratios and risk profile. The market's reception to this offering will be a key indicator of investor sentiment towards Post and the packaged foods sector as a whole.
The Company intends to use the net proceeds from the Notes offering for purposes of financing its cash tender offer (the "Tender Offer") for up to
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-
This press release is not an offer to sell or a solicitation of an offer to buy any security, nor shall there be any sales of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any jurisdiction. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act. This press release is not a tender offer for any of the Company's
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, including statements regarding the completion of the offering, timing, the expected amount and intended use of the net proceeds of the offering and the Tender Offer. 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," "would" or the negative of these terms or similar expressions elsewhere in this press 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 or the Tender Offer 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. The Company may not consummate the offering as described in this press release and, if the offering is consummated, cannot provide any assurances regarding its ability to effectively apply the net proceeds as described above. 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 offering or the Tender Offer will be completed as anticipated or at all.
About Post Holdings, Inc.
Post Holdings, Inc., headquartered in
Contact:
Investor Relations
Daniel O'Rourke
daniel.orourke@postholdings.com
(314) 806-3959
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SOURCE Post Holdings, Inc.
FAQ
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