Spectrum Brands Holdings, Inc. (NYSE: SPB) has declared the pricing of senior notes which was being offered by its fully-owned unit Spectrum Brands, Inc. Spectrum Brands Inc has offered the sale of $500.0 million total principal amount of 3.875% Senior Notes due 2031 at a price of 100% of the par value.
The firm has increased the pricing of earlier declared $400.0 million offerings of notes. As per rule 144A under the Securities Act of 1933, the person will only be able to avail the opportunity of buying the Senior Notes if he is eligible.
Spectrum Brands Holdings, Inc. is the guarantor of the senior notes offered by Spectrum Brands. Other guarantors of the offering include SB/RH Holdings, LLC, as well as current and future internal holdings. The non-US persons outside the US will also be eligible to avail the opportunity to buy the notes as per Regulation S under the Securities Act.
Furthermore, the share of Spectrum Brand Holdings Inc surged 0.35% during the trading session of Friday. The firm has a total market value of $3.50 billion at the time of writing. The company is planning to use the profit from the offering to finance the payments related to the earlier declared tender offer of Spectrum Brands.
Moreover, the firm also intends to use the profit to pay the charges related to the tender offer and for the other benefits of the business. This Notes Offering of the firm is anticipated to ends on March 3, 2021, after the fulfillment of necessary conditions.