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Prestige Plans $400 Million Private Offering of Senior Notes

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Prestige Consumer Healthcare (PBH) said Tuesday its subsidiary, Prestige Brands, intends to offer $400 million of new senior notes due 2034 in a private offering.

The company said it intends to use the net proceeds from the offering, together with cash on hand, to redeem all $400 million of Prestige Brands' outstanding 5.125% senior notes due 2028 and pay related fees and expenses.

Prestige Brands expects to issue a redemption notice for the 2028 notes at 100% of the principal amount, plus accrued and unpaid interest to the redemption date. The redemption is conditioned on the completion of an offering of at least $400 million of new unsecured senior notes, unless Prestige Brands waives that condition.

Price: $47.94, Change: $-0.12, Percent Change: -0.24%

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