Jarden Corporation has priced the sale of $492 million aggregate principal amount of 7 1/2% senior subordinated notes due 2020. The offering consists of two tranches: a U.S. dollar tranche with aggregate principal amount of $275 million at a discount to yield 7 5/8% and a Euro tranche with aggregate principal amount of EUR 150 million (approximately $217 million) at a discount to yield 7 3/4%.
The closing of the offering of the notes is expected to occur Jan. 20, 2010 subject to customary closing conditions. Jarden expects to use the net proceeds of the proposed offering to repay a portion of its senior credit facility term loans with the balance for general corporate purposes. Deutsche Bank Securities and Barclays Capital are acting as joint book-running managers of the offering.