Newell Brands Announces Upsized Offering and Pricing of $750 Million 6.375% Notes due 2030 and $500 Million 6.625% Notes due 2032
30 Ottobre 2024 - 2:09AM
Business Wire
Newell Brands (NASDAQ: NWL) today announced the launch and
pricing of an upsized public offering of $750 million aggregate
principal amount of 6.375% notes due 2030 (the “2030 Notes”) and
$500 million aggregate principal amount of 6.625% notes due 2032
(the “2032 Notes” and, together with the 2030 Notes, the “Notes”).
The offering of the Notes is expected to close on November 13,
2024, subject to customary closing conditions.
Newell Brands intends to use the net proceeds from the offering
of the Notes to redeem in full its outstanding 4.875% senior notes
due 2025 (the “2025 Notes”) and to redeem in part its outstanding
4.200% senior notes due 2026 (the “2026 Notes”).
On October 29, 2024, Newell Brands instructed the trustee of the
2025 Notes and the 2026 Notes to deliver (i) to the holders of the
2025 Notes, a conditional notice to redeem in full the outstanding
2025 Notes and (ii) to the holders of the 2026 Notes, a conditional
notice to partially redeem the outstanding 2026 Notes
(collectively, the “redemptions”). Each of the redemptions will be
an election to effect an optional redemption, conditioned on the
consummation of the offering of the Notes or an alternative debt
financing satisfactory to Newell Brands and that provides net
proceeds sufficient to pay the applicable redemption price for such
series of notes and all fees and expenses thereto. Neither this
press release nor anything contained herein shall constitute a
notice of redemption or an offer to redeem or purchase any of the
outstanding 2025 Notes or the 2026 Notes.
J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC, BofA
Securities, Inc., Citigroup Global Markets Inc., HSBC Securities
(USA) Inc., Wells Fargo Securities, LLC and RBC Capital Markets,
LLC are serving as the joint book-running managers for the
offering. Barclays Capital Inc., UBS Securities LLC, PNC Capital
Markets LLC, ING Financial Markets LLC, Siebert Williams Shank
& Co., LLC and U.S. Bancorp Investments, Inc. are serving as
the co-managers for the offering of the Notes.
The offering of the Notes is being made under an effective shelf
registration statement on Form S-3 (Registration No. 333-279561)
filed by Newell Brands with the Securities and Exchange Commission
(“SEC”) on May 20, 2024 (effective on May 31, 2024) and only by
means of a prospectus supplement and accompanying prospectus. A
preliminary prospectus supplement and an issuer free writing
prospectus have been filed and a prospectus supplement relating to
the offering of the Notes will be filed, with the SEC, to which
this communication relates. Prospective investors should read the
issuer free writing prospectus, preliminary prospectus supplement
and the accompanying prospectus included in the registration
statement and other documents Newell Brands has filed with the SEC
for more complete information about Newell Brands and the offering.
These documents are available at no charge by visiting EDGAR on the
SEC website at http://www.sec.gov. Alternatively, the prospectus
and the prospectus supplement may be obtained by contacting J.P.
Morgan Securities LLC at (866) 803-9204.
This communication is neither an offer to sell nor a
solicitation of an offer to buy the securities described herein,
nor shall there be any offer, solicitation or sale of these
securities in any jurisdiction in which such an offer, solicitation
or sale would be unlawful prior to the registration or
qualification under the securities laws of any such jurisdiction.
The offering of these securities will be made only by means of the
applicable prospectus supplement and the accompanying prospectus.
The securities being offered have not been approved or disapproved
by any regulatory authority, nor has any such authority passed upon
the accuracy or adequacy of the registration statement, the
prospectus contained therein or the applicable prospectus
supplement.
About Newell Brands
Newell Brands (NASDAQ: NWL) is a leading global consumer goods
company with a strong portfolio of well-known brands, including
Rubbermaid, Sharpie, Graco, Coleman, Rubbermaid Commercial
Products, Yankee Candle, Paper Mate, FoodSaver, Dymo, EXPO,
Elmer’s, Oster, NUK, Spontex and Campingaz. Newell Brands is
focused on delighting consumers by lighting up everyday
moments.
Forward-Looking
Statements
Some of the statements in this press release, particularly those
relating to the offering of the Notes and the use of proceeds
therefrom are forward-looking statements within the meaning of the
Federal securities laws. Actual results could differ materially
from expectations expressed or implied in the forward-looking
statements if one or more of the underlying assumptions or
expectations prove to be inaccurate or are unrealized. Important
factors that could cause actual results to differ materially from
such expectations are and will be detailed in the company’s filings
with the SEC, including but not limited to its Annual Report on
Form 10-K for the year ended December 31, 2023 and its Quarterly
Reports on Form 10-Q for the quarters ended March 31, 2024, June
30, 2024 and September 30, 2024.
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version on businesswire.com: https://www.businesswire.com/news/home/20241029740372/en/
Investors: Joanne Freiberger VP, Investor Relations +1
(727) 947-0891 joanne.freiberger@newellco.com
Media: Beth Stellato Chief Communications Officer +1
(470) 580-1086 beth.stellato@newellco.com
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