Newell Brands Announces Tender Offers for $1.5 Billion of Outstanding Debt

Newell Brands Inc. (NYSE: NWL) (the “Company” or “Newell Brands”) announced today that it has commenced debt tender offers to purchase for cash (i) any and all of the Company’s outstanding securities listed in Table I below (the “Any and All Notes”) (such offer, the “Any and All Offer”), and (ii) up to the Maximum Waterfall Tender Amount (as defined below) in aggregate principal amount of the Company’s outstanding securities listed in Table II below (collectively, the “Waterfall Notes” and, together with the Any and All Notes, the “Securities”), subject to the Acceptance Priority Levels as defined below (such offer, the “Waterfall Offer”). The “Maximum Waterfall Tender Amount” is an aggregate principal amount equal to $1.5 billion less the aggregate principal amount of the Any and All Notes validly tendered and accepted for purchase in the Any and All Offer. The tender offers are intended to allow the Company to repurchase the Securities and reduce the amount and cost of the Company’s outstanding indebtedness. The Company expects to fund the tender offers with the proceeds from divestitures under the Company’s Accelerated Transformation Plan (including the divestitures of the Pure Fishing and Jostens businesses, if consummated), together with available cash on hand.

Table I

Securities Subject to the Any And All Offer

            Title of Security⁽¹⁾

Principal
Amount
Outstanding

CUSIP/ISIN

Early
Tender
Premium⁽²⁾

Reference U.S. Treasury
Security

Bloomberg
Reference
Page/Screen

Fixed
Spread
(basis
points)

  3.150% Notes due 2021 $350,000,000 CUSIP: 651229 AU0

ISIN: US651229AU09

$50 1.250% UST due 03/31/21 PX5 30

(1) The Total Consideration will be determined taking into account the par call date, if applicable, for such series of Securities.