Newell Brands Announces Early Results of Its Tender Offer
Title of Security |
Principal |
CUSIP/ISIN |
Acceptance |
Principal |
Tender Offer |
Early |
Total |
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3.850% Notes due 2023(3) |
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CUSIP: 651229 AV8 ISIN: US651229AV81 |
1 |
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4.000% Notes due 2022 |
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CUSIP: 651229 AM8 ISIN: US651229AM8Z |
2 |
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3.150% Notes due 2021(3) |
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CUSIP: 651229 AU0 ISIN: US651229AU09 |
3 |
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________________
(1) As set forth in the Offer to Purchase (as defined below), the Early Tender Premium will be payable only to holders of the Notes that were validly tendered (and not validly withdrawn) as of the Early Tender Deadline, and that are accepted for purchase.
(2) The Total Consideration payable for each
(3) Currently subject to a 0.50% coupon step up under the terms of the applicable series of Notes.
Because the aggregate principal amount of validly tendered Notes exceeded the Maximum Tender Amount, the Notes will be purchased subject to the Maximum Tender Amount, the Acceptance Priority Levels and proration as described in the Offer to Purchase dated
Holders of 2023 Notes that were validly tendered and not properly withdrawn at or prior to the Early Tender Deadline and accepted for purchase will receive the applicable Total Consideration specified in the table above, which includes the applicable Early Tender Premium specified in the table above. Payments for 2023 Notes purchased will include the applicable accrued and unpaid interest on the 2023 Notes from, and including, the most recent interest payment date prior to the applicable settlement date up to, but not including, the applicable settlement date, rounded to the nearest cent (“Accrued Interest”). The settlement date for 2023 Notes tendered at or prior to the Early Tender Deadline and accepted for purchase is expected to be
Although the Offer is scheduled to expire at midnight,
None of the Company or its affiliates, their respective boards of directors, the dealer managers, the information agent and tender agent or the trustee with respect to any Notes is making any recommendation as to whether holders should tender any Notes in response to the Offer, and neither the Company nor any such other person has authorized any person to make any such recommendation. Holders must make their own decision as to whether to tender any of their Notes, and, if so, the principal amount of Notes to tender.
This news release shall not constitute an offer to sell, a solicitation to buy or an offer to purchase or sell any securities. The Offer is being made only pursuant to the Offer to Purchase and only in such jurisdictions as is permitted under applicable law.
About
This press release and additional information about
Cautionary Note Regarding Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These “forward-looking statements” are statements other than statements of historical fact and may include, among other things, statements in relation to the Company’s current expectations and beliefs as to its ability to consummate the Offer, including the timing, size or other terms of the Offer, and other future events. All information set forth in this release is as of the date hereof. The Company does not intend, and undertakes no duty, to update this information to reflect future events or circumstances. Actual results are subject to a number of risks and uncertainties and may differ materially from the current expectations and beliefs discussed in this press release. Certain potential factors, risks and uncertainties that could affect the Company’s business and financial results and cause actual results to differ materially from those expressed or implied in any forward-looking statements include the Company’s ability to complete the Offer and satisfy the conditions thereto, and other potential factors, risks and uncertainties under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” in its Annual Report on Form 10-K for the year ended
View source version on businesswire.com: https://www.businesswire.com/news/home/20201125005420/en/
Investors:
Nancy O’Donnell
SVP, Investor Relations and Communications
+1 (770) 418-7723
nancy.odonnell@newellco.com
VP, Investor Relations
+1 (201) 610-6901
sofya.tsinis@newellco.com
Media:
VP, Corporate Communications, Events & Philanthropy
+1 (470) 580-1086
beth.stellato@newellco.com
Source: