debt
confidence high
sentiment neutral
materiality 0.65
Lamb Weston prices $1.67B senior notes offering; upsizes 2030 tranche to $970M, downsizes 2032 to $700M
Lamb Weston Holdings, Inc.
- Priced $970M of 4.125% senior notes due 2030 and $700M of 4.375% senior notes due 2032.
- 2030 notes upsized from previously announced $835M; 2032 notes downsized from $835M.
- Net proceeds, together with cash, to redeem all outstanding 4.625% 2024 notes and 4.875% 2026 notes.
- Conditional redemption notices issued for 2024 and 2026 notes; redemption on Nov 18, 2021 conditional on closing.
- Closing of offering expected on or about Nov 8, 2021; notes guaranteed by material domestic subsidiaries.