M&A
confidence high
sentiment neutral
materiality 0.60
BellRing and Post amend merger agreement; new debt term 8-10 years
BELLRING BRANDS, INC.
- Amends Section 8.13(b) of the Transaction Agreement to allow SpinCo Notes term of 8-10 years (previously 10 years).
- SpinCo Notes will be unsecured, non-callable for five years (except if distribution fails), then callable at make-whole price.
- SpinCo Loans (revolver) remain at 4-5 year term, secured first-lien, subject to market-standard covenants.
- Amendment signed by BellRing Brands (BRBR), Post Holdings (POST), and related entities.