Stock Market News

Post Holdings plans $875 million senior secured notes offering

2024.02.05 08:19


© Reuters.

ST. LOUIS – Post Holdings , Inc. (NYSE:), a client packaged items holding firm, introduced at this time its intention to supply $875M in senior secured notes due in 2032 to eligible purchasers, topic to market situations. The notes can be secured by ensures from the corporate’s home subsidiaries, excluding sure non-material subsidiaries.

The firm goals to make use of the proceeds, together with obtainable money, to repay its $400M incremental time period mortgage, redeem its 5.75% senior notes due 2027, and canopy related prices. Any remaining funds could also be used for common company functions equivalent to debt compensation, acquisitions, share repurchases, and capital expenditures.

The offering is just not contingent on the redemption of the 5.75% senior notes, anticipated on March 1, 2024. The notes and ensures are provided to certified institutional consumers and non-U.S. individuals in accordance with securities rules.

The ultimate phrases of the notes are topic to vary based mostly on market situations, and the notes haven’t been registered below U.S. securities legal guidelines, thus limiting their sale throughout the United States to sure exemptions.

This announcement follows the corporate’s forward-looking statements coverage, highlighting potential dangers and uncertainties that would have an effect on the offering’s end result. Post Holdings emphasizes that there is no such thing as a assurance the offering can be accomplished as deliberate.

This information relies on a press launch assertion and doesn’t represent a gross sales provide or solicitation in any jurisdiction the place such actions could be illegal.

InvestingPro Insights

In mild of Post Holdings, Inc.’s strategic monetary maneuvers, present information from InvestingPro gives further context for buyers contemplating the corporate’s latest actions. With a strong market capitalization of $6.13B and a constructive income progress of 21.56% during the last twelve months as of Q1 2024, Post Holdings demonstrates a robust efficiency in its sector. Notably, the corporate’s share worth is buying and selling close to its 52-week excessive, reflecting investor confidence and a robust return during the last three months, with a worth complete return of 20.01%.

InvestingPro Tips point out that administration’s aggressive share buybacks and 6 analysts revising their earnings upwards for the upcoming interval could sign a bullish outlook for the corporate. Additionally, Post Holdings has been worthwhile during the last twelve months, and analysts predict profitability this yr as effectively, which might be a constructive signal for potential buyers. It’s value noting that the corporate doesn’t pay a dividend, directing its capital in the direction of progress and operational initiatives as a substitute.

For these in search of a deeper dive into Post Holdings’ monetary well being, the InvestingPro platform gives a wealth of further suggestions. A subscription to InvestingPro is presently on a particular New Year sale with a reduction of as much as 50%. Use coupon code “SFY24” to get an extra 10% off a 2-year InvestingPro+ subscription, or “SFY241” to get an extra 10% off a 1-year subscription, and unlock the total suite of insights that would additional inform your funding selections.

This article was generated with the help of AI and reviewed by an editor. For extra info see our T&C.

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