Newell Brands issues $1.25B in notes (6.375% 2030, 6.625% 2032) to refinance near-term debt

NEWELL BRANDS INC.

Issued $750M of 6.375% notes due 2030 and $500M of 6.625% notes due 2032 at 99.15% of par.
Transaction closed November 13, 2024; net proceeds to redeem $490M of 4.875% notes due 2025 and part of 4.200% notes due 2026.
Notes are senior unsecured with change-of-control repurchase at 101% plus accrued interest.
Covenants include limits on additional debt, liens, asset sales, and affiliate transactions, subject to investment grade termination.

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