debt
confidence high
sentiment neutral
materiality 0.85
H.B. Fuller issues $850M 7.625% notes due 2034 and terminates $917M bridge
FULLER H B CO
- H.B. Fuller sold $850,000,000 of 7.625% senior unsecured notes due October 15, 2034, with interest payable semi-annually beginning April 15, 2027.
- The company terminated its $917,000,000 Unsecured Bridge Credit Agreement with no outstanding loans, no prepayment premium, and all commitments terminated.
- If the pending Advanced Medical Solutions Group plc acquisition is not completed by June 25, 2027, H.B. Fuller must redeem $450,000,000 of the notes at 100% of issue price.
- The notes are not initially guaranteed by subsidiaries but would require future guarantors if subsidiaries guarantee similar capital markets debt; change-of-control repurchase is at 101%.