Loan & DebtJun 30, 2026, 08:25 AM
Prestige Consumer Healthcare Subsidiary to Offer $400M New Notes
AI Summary
Prestige Consumer Healthcare Inc. announced that its wholly-owned subsidiary, Prestige Brands, Inc., plans to offer up to $400 million in new senior notes due 2034 through a private offering. The company intends to use the net proceeds from this offering, combined with cash on hand, to redeem all outstanding $400 million of Prestige Brands' 5.125% Senior Notes due 2028. The redemption of the 2028 notes is contingent upon the successful completion of the new notes offering.
Key Highlights
- Prestige Brands, a subsidiary, intends to offer up to $400 million in new senior notes due 2034.
- The new notes will be senior unsecured obligations of Prestige Brands, guaranteed by the Company.
- Net proceeds, along with cash on hand, will redeem $400 million of 5.125% Senior Notes due 2028.
- Redemption of 2028 notes is conditioned on completing the new notes offering of at least $400 million.
- The offering is private, targeting qualified institutional buyers under Rule 144A and Regulation S.
Price Impact
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