debt
confidence high
sentiment neutral
materiality 0.50
Lamb Weston issues $1.67B in senior notes: $970M at 4.125% due 2030, $700M at 4.375% due 2032
Lamb Weston Holdings, Inc.
- Issued $970M of 4.125% senior notes maturing Jan 31, 2030 and $700M of 4.375% senior notes maturing Jan 31, 2032.
- Interest payable semi-annually on Jan 31 and Jul 31, first payment Jul 31, 2022.
- Notes are senior unsecured obligations, guaranteed by certain subsidiaries that also guarantee existing credit facilities.
- Indentures contain customary covenants limiting liens and asset sales, and change-of-control repurchase provisions.
- Notes effectively subordinated to secured debt, rank equally with future senior unsecured debt.