Prestige Consumer Healthcare Subsidiary Issues $400M Senior Notes
Prestige Brands, Inc., a wholly owned subsidiary of Prestige Consumer Healthcare Inc., has issued $400.0 million in 6.250% senior notes due 2034. The notes are senior unsecured obligations, guaranteed by the parent company and certain subsidiaries, with interest payable semi-annually. The Indenture includes standard covenants restricting certain corporate actions and outlines redemption options for Prestige Brands, including a make-whole premium for early redemption and a 101% repurchase offer in case of a Change of Control.
Key Highlights
- Prestige Brands, Inc. issued $400.0 million aggregate principal amount of senior notes.
- The notes carry an interest rate of 6.250% and are due on July 15, 2034.
- Interest will be paid semi-annually on January 15 and July 15, starting January 15, 2027.
- Prestige Brands can redeem notes on or after July 15, 2029, at specified redemption prices.
- Prior to July 15, 2029, notes can be redeemed with a make-whole premium.
- Up to 40% of notes can be redeemed before July 15, 2029, using net proceeds from certain equity offerings.
- A Change of Control event requires an offer to purchase notes at 101% of principal amount.
Price Impact
More from PBH
Prestige Consumer Healthcare Executives to Present at Canaccord Conference
Prestige Consumer Healthcare Acquires OTC Wellness Business for $1.045B
Prestige Consumer Raises FY27 Outlook on Acquisitions; Q1 Revenue $265.7M