Newell Brands plans $500M senior notes offering due 2031

Newell Brands (NASDAQ: NWL) announced plans to offer $500 million in aggregate principal amount of senior unsecured notes due 2031 in a private placement exempt from Securities Act registration requirements.

The Atlanta-based consumer goods company said it intends to use the net proceeds, along with cash on hand, to fully redeem its outstanding 6.375% senior notes due 2027 and cover related fees and expenses.

The notes will be offered only to qualified institutional buyers under Rule 144A of the Securities Act, and to certain non-U.S. persons outside the United States under Regulation S. The notes have not been registered under the Securities Act or any state securities laws.

The company noted the offering is subject to market and other conditions, and there is no assurance it will be completed or, if completed, on what terms.

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