Prestige Consumer Healthcare's subsidiary, Prestige Brands, plans to offer up to $400 million of new senior notes due 2034 in a private offering. The company intends to use the net proceeds, together with cash on hand, to redeem all $400 million of its outstanding 5.125% Senior Notes due 2028 and to pay related fees and expenses. Prestige Brands expects to give notice of its intention to redeem the 2028 notes at a redemption price equal to 100.0% of the principal amount, plus accrued and unpaid interest to the redemption date.
Prestige Brand Holdings IncRefinancing $400M of 5.125% notes with new notes due 2034, likely at lower cost, improving financial flexibility.