Jarden Corporation, which owns The Coleman Co., K2, Marmot, Shakespeare, Rawlings and 20 other sporting goods brands in addition to dozens of small appliance and other consumer brands, announced plans to borrow $600 million from investors and use up to $250 million of the proceeds to buy back its stock.

The company said it plans to sell $600 million in senior subordinated convertible notes to institutional investors and other qualified buyers pursuant to Rule 144A under the Securities Act of 1933 and come due in 2023.  The interest rate, initial conversion price, repurchase provisions and other terms of the convertible notes will be determined by negotiations between the company and the initial purchasers.  The company expects to grant to the initial purchasers an option to purchase up to an additional $90 million in aggregate principal amount of the Convertible Notes. 

Jarden intends to use the net proceeds to repurchase up to $250 million shares of its common stock under its stock repurchase program, subject to availability, and the remainder for general corporate purposes, which may include repayment of debt.

Jarden Corporation is a leading provider of a diverse range of consumer products with a portfolio of over 120 trusted, quality brands sold globally. Jarden operates in three primary business segments through a number of well recognized brands, including: Outdoor Solutions: Abu Garcia, AeroBed, Berkley, Campingaz and Coleman, ExOfficio, Fenwick, Greys, Gulp!, Hardy, Invicta, K2, Madshus, Marker, Marmot, Mitchell, PENN, Rawlings, Ride, Sevylor, Shakespeare, Stearns, Stren, Trilene, Volkl, Worth and Zoot; Consumer Solutions: Bionaire, Breville, Crock-Pot, FoodSaver, Health o meter, Holmes, Mr. Coffee, Oster, Patton, Rival, Seal-a-Meal, Sunbeam, VillaWare and White Mountain; and Branded Consumables: Ball, Bee, Bernardin, Bicycle, Billy Boy, Crawford, Diamond, Dicon, Fiona, First Alert, First Essentials, Hoyle, Kerr, Lehigh, Lifoam, Lillo, Loew Cornell, Mapa, NUK, Pine Mountain, ProPak, Quickie, Spontex, Tigex and Yankee Candle.  Headquartered in Florida, Jarden ranks #383 on the Fortune 500 and has over 30,000 employees worldwide