Newell Brands announced the launch and pricing of an upsized public offering of $750 million aggregate principal amount of 6.375 percent notes due 2030 and $500 million aggregate principal amount of 6.625 percent notes due 2032.
The offering of the notes is expected to close on November 13, 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 percent senior notes due 2025 and to redeem in part its outstanding 4.200 percent senior notes due 2026.
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.
Newell Brands’ brands in its Outdoor & Recreation segment includes Marmot, Ex Officio, Stearns, Bubba, Coleman, and Contigo. It also owns Rubbermaid, Sharpie, Graco, Rubbermaid Commercial Products, Yankee Candle, Paper Mate, FoodSaver, Dymo, EXPO, Elmer’s, Oster, NUK, Spontex and Campingaz.
