debt
confidence high
sentiment neutral
materiality 0.65
Post Holdings launches $475M tender for 5.625% senior notes due 2028; plans $1.2B notes offering due 2033
Post Holdings, Inc.
- Cash tender offer for up to $475M of its 5.625% senior notes due 2028; early tender deadline Aug 21, 2024, expiration Sep 6, 2024.
- Intends to privately offer $1.2B aggregate principal amount of senior notes due 2033 to finance tender and repay revolver borrowings.
- TTM ended June 30, 2024: net sales $7.86B, net earnings from cont. ops $350.8M, adjusted EBITDA $1.404B.
- Pro forma net debt (as adjusted) after offering $6.112B; acquisition adjusted EBITDA $1.413B for leverage ~4.3x.