What changed
Newell Brands announced a planned private offering of $500 million aggregate principal amount of senior unsecured notes due 2031. The company intends to use the net proceeds along with cash on hand to redeem in full its outstanding 6.375% senior notes due 2027 and pay related fees and expenses. The offering is subject to market and other conditions, and there is no assurance it will be completed.
Why it matters
Newell Brands announced a planned private offering of $500 million aggregate principal amount of senior unsecured notes due 2031. The company intends to use the net proceeds along with cash on hand to redeem in full its outstanding 6.375% senior notes due 2027 and pay related fees and expenses. The offering is subject to market and other conditions, and there is no assurance it will be completed.