Newell Brands Announces Tender Offer for $300 Million of Outstanding Debt

About this update from Newell Brands Inc.

[{"type":"text","content":" ATLANTA--(BUSINESS WIRE)--\nNewell Brands Inc. (NASDAQ: NWL) (the “Company” or “Newell Brands”) announced today that it has commenced a debt tender offer (the “Offer”) to purchase for cash up to the Maximum Tender Amount (as defined below) in aggregate principal amount of the Company’s outstanding securities listed in Table I below (collectively, the “Notes”), subject to the Acceptance Priority Levels as defined below. The “Maximum Tender Amount” is an aggregate principal amount equal to $300 million. The Offer is intended to allow the Company to reduce the amount and cost of the Company’s outstanding indebtedness. The Company expects to fund the Offer with available cash on hand.\n\nTable I\n\nNotes Subject to the Offer\n\n\n\nTitle of Security(1)\n\n\n\n\nPrincipal\nAmount\nOutstanding\n\n\n\n\nCUSIP/ISIN\n\n\n\n\nAcceptance\nPriority Level\n\n\n\n\nTender Offer\nConsideration\n\n\n\n\nEarly Tender\nPremium\n\n\n\n\n \n\n\nTotal\nConsideration(2)\n\n\n\n\n\n \n\n\n\n\n \n\n\n\n\n \n\n\n\n\n \n\n\n\n\n \n\n\n\n\n \n\n\n\n\n \n\n\n\n\n\n3.850% Notes due\n2023(3)\n\n\n\n\n$1,393,254,000\n\n\n\n\nCUSIP: 651229 AV8\nISIN: US651229AV81\n\n\n\n\n1\n\n\n\n\n$1,027.50\n\n\n\n\n$30\n\n\n\n\n$1,057.50\n\n\n\n\n\n \n\n\n\n\n \n\n\n\n\n \n\n\n\n\n \n\n\n\n\n \n\n\n\n\n \n\n\n\n\n \n\n\n\n\n\n4.000% Notes due\n2022\n\n\n\n\n$250,000,000\n\n\n\n\nCUSIP: 651229 AM8\nISIN: US651229AM8Z\n\n\n\n\n2\n\n\n\n\n$1,007.50\n\n\n\n\n$30\n\n\n\n\n$1,037.50\n\n\n\n\n\n \n\n\n\n\n \n\n\n\n\n \n\n\n\n\n \n\n\n\n\n \n\n\n\n\n \n\n\n\n\n \n\n\n\n\n\n3.150% Notes due\n2021(3)\n\n\n\n\n$93,840,000\n\n\n\n\nCUSIP: 651229 AU0\nISIN: US651229AU09\n\n\n\n\n3\n\n\n\n\n$976.25\n\n\n\n\n$30\n\n\n\n\n$1,006.25\n\n\n\n\n________________\n\n(1) Holders whose Notes are accepted will also receive Accrued Interest (as defined herein) on such Notes.\n(2) The Total Consideration payable for each $1,000 principal amount of Notes validly tendered at or prior to the Early Tender Deadline and accepted for purchase by us includes the applicable Early Tender Premium.\n(3) Currently subject to a 0.50% coupon step up under the terms of the applicable series of Notes.\n\nSubject to the Maximum Tender Amount, the amounts of each series of Notes that are purchased in the Offer will be determined in accordance with the acceptance priority levels specified in Table I above (the “Accepta...

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