J. M. Smucker (SJM) Prices $750M, 3.50% Senior Notes Offering
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Price: $124.03 +0.80%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 3.7%
Revenue Growth %: +0.5%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 3.7%
Revenue Growth %: +0.5%
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The J. M. Smucker Company (NYSE: SJM) today announced that it has priced a public offering of $750 million principal amount of 3.50% notes due 2021.
The Company intends to use the net proceeds from the offering for the repayment of borrowings outstanding under the Company's revolving credit facility used to fund recent acquisitions, capital expenditures and other working capital requirements, for general corporate purposes, which could include, but are not limited to, repayments of outstanding debt, capital expenditures or working capital, and for funding of possible acquisitions. The offering is expected to close on October 18, 2011.
The Company intends to use the net proceeds from the offering for the repayment of borrowings outstanding under the Company's revolving credit facility used to fund recent acquisitions, capital expenditures and other working capital requirements, for general corporate purposes, which could include, but are not limited to, repayments of outstanding debt, capital expenditures or working capital, and for funding of possible acquisitions. The offering is expected to close on October 18, 2011.
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