debt
confidence high
sentiment neutral
materiality 0.50
Smucker launches $300M cash tender offers for five series of senior notes
J M SMUCKER Co
- Commences cash tender offers to purchase up to $300M aggregate purchase price of five series of senior notes due 2028-2050.
- Early tender premium of $30 per $1,000 principal; early tender deadline Dec 16, 2024, expiration Jan 2, 2025.
- Acceptance priority levels: 2.750% 2041 notes highest, 5.900% 2028 notes lowest.
- Funding from cash on hand and commercial paper; Goldman Sachs and J.P. Morgan acting as dealer managers.
- Maximum aggregate purchase price capped at $300M; offers not conditioned on minimum tenders.