ScottsMiracle-Gro Redeems $250 Million in Notes, Renews $750 Million Facility

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โดย Zacks Investment Research·US·Read original
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The Scotts Miracle-Gro Company announced a series of capital allocation moves, including the redemption of $250 million of senior notes, the renewal of a $750 million accounts receivable facility and the start of its $500 million share repurchase program, while reaffirming its fiscal 2026 financial guidance. The company redeemed the entire $250 million of its outstanding 5.25% senior notes due 2026 on Sept. 11, 2026, using revolver borrowings and planned excess fiscal 2026 free cash flow to reduce leverage and strengthen the balance sheet. It also renewed its $750 million accounts receivable facility with JPMorgan Chase Bank, N.A., extending its maturity to Aug. 31, 2027. Under the $500 million share repurchase program, ScottsMiracle-Gro bought back $25 million of shares in August 2026, with future repurchases subject to market conditions and the company's debt-reduction priorities. The company said it has achieved its fiscal 2026 free cash flow target of $275 million, a level it expects to help bring leverage down to the high-3x range.

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ScottsMiracle-Gro redeemed $250M of senior notes, renewed its $750M receivables facility, and began a $500M buyback while reaffirming FY2026 guidance and hitting its $275M free cash flow target

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