Reported Earlier, Spectrum Brands Prices Private Offering Of $300M 3.375% New Exchangeable Senior Notes
Portfolio Pulse from Benzinga Newsdesk
Spectrum Brands has priced a private offering of $300 million in new exchangeable senior notes with a 3.375% interest rate. The proceeds will be used for capped call transactions, share repurchases, and general corporate purposes.
May 21, 2024 | 6:53 am
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Spectrum Brands has announced a $300 million private offering of 3.375% exchangeable senior notes. The proceeds will be used for capped call transactions, share repurchases, and general corporate purposes.
The private offering of $300 million in exchangeable senior notes indicates a strategic move to manage capital and potentially enhance shareholder value through share repurchases. This could positively impact SPB's stock price in the short term.
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