BellRing Distribution LLC announces $840M senior notes offering to fund spin-off and refinancing

BELLRING BRANDS, INC.

BellRing Distribution, LLC commences $840M private offering of senior notes due 2030 to eligible purchasers.
Notes issued to Post as partial consideration for BellRing equity; Post will transfer to its lenders to satisfy debt.
New BellRing uses cash from Post + revolver to refinance BellRing LLC debt and pay fees and distribute to stockholders.
Offering conditioned on Post's spin-off of 80.1% of New BellRing and merger of a subsidiary into BellRing Brands.
Notes are unsecured unsubordinated obligations of New BellRing, guaranteed by domestic subsidiaries after 14 days.

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