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Newell Brands Announces Tender Offers for $700 Million of Outstanding Debt

Nachrichtenquelle: Business Wire (engl.)
12.08.2019, 14:30  |  238   |   |   

Newell Brands Inc. (NASDAQ: 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” and, together with the Any and All Offer, the “Offers”). The “Maximum Waterfall Tender Amount” is an aggregate principal amount equal to $700 million less the aggregate principal amount of the Any and All Notes validly tendered and accepted for purchase in the Any and All Offer. The Offers are intended to allow the Company to reduce the amount and cost of the Company’s outstanding indebtedness. The Company expects to fund the Offers with available cash on hand.

Table I

Securities Subject to the Any And All Offer

 

Title of Security(1)

Principal Amount Outstanding

CUSIP/ISIN

Reference U.S. Treasury Security

Bloomberg Reference Page/Screen

Fixed Spread

(basis points)

 

 

 

 

 

 

3.900% Notes due 2025

 

$91,088,000

 

CUSIP: 651229 AS5

ISIN: US651229AS52

 

1.75% due 7/31/2024

 

FIT1

 

185

 

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