Newell Brands Inc. Completes $1.25 Billion Notes Offering

Newell Brands Inc., a leading consumer goods company, recently finalized the offering and sale of $750 million of 6.375% notes due 2030 and $500 million of 6.625% notes due 2032 under a Registration Statement on Form S-3. The underwriting agreement for the notes was entered into on October 29, 2024, with the offering closing on November 13, 2024.

The company plans to utilize the net proceeds from the offering to redeem its outstanding 4.875% senior notes due 2025 and partially redeem the 4.200% senior notes due 2026. The issuance was governed by Supplemental Indentures, outlining the terms of the senior unsecured obligations of Newell Brands. These covenants include restrictions on additional debt, liens, and asset sales, subject to certain exceptions.

In case of a change of control or ratings downgrade, the company may be required to repurchase the notes at a premium. The Supplemental Indentures also outline customary events of default. Copies of the related agreements have been filed with the Securities and Exchange Commission.

This move indicates Newell Brands’ strategic financial planning, allowing for streamlined debt management and operational flexibility in the coming years.

Furthermore, the company disclosed the creation of a financial obligation pertaining to the issuance of the notes, adding transparency to its financial commitments.

Investors and industry experts are closely monitoring Newell Brands’ actions, as the successful completion of this significant notes offering reflects positively on its financial stability and long-term growth strategies.

For a comprehensive overview of the financial agreements and implications stemming from this offering, interested parties can access the full 8-K filing on the Securities and Exchange Commission’s website or Newell Brands’ investor relations page.

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This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Newell Brands’s 8K filing here.

Newell Brands Company Profile

Newell Brands Inc engages in the design, manufacture, sourcing, and distribution of consumer and commercial products worldwide. The company operates in three segments: Home and Commercial Solutions, Learning and Development, and Outdoor and Recreation. The Commercial Solutions segment provides commercial cleaning and maintenance solution products under the Rubbermaid, Rubbermaid Commercial Products, Mapa, and Spontex brands; closet and garage organization products; hygiene systems and material handling solutions; household products, such as kitchen appliances under the Crockpot, Mr.