Newell Brands announced an upsized public offering of $750 million aggregate principal amount of 6.375% notes due 2030 and $500 million aggregate principal amount of 6.625% notes due 2032. The total offering amounts to $1.25 billion in senior unsecured notes.
The company intends to use the net proceeds from this offering to redeem in full its outstanding 4.875% senior notes due 2025. Additionally, a portion of the proceeds will be used to partially redeem its outstanding 4.200% senior notes due 2026.
This refinancing strategy aims to extend the maturity profile of Newell Brands' debt. The offering is expected to close on November 13, 2024, subject to customary closing conditions, demonstrating the company's ongoing efforts to manage its balance sheet.
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