- Post Holdings ( NYSE: POST ) on Tuesday announced a private offering to eligible purchasers of $400M of convertible senior notes due 2027 .
- POST expects to grant initial purchasers an option to buy up to an additional $60M of the notes.
- The notes will be unsecured, senior obligations of POST.
- The notes will accrue interest payable semi-annually in arrears and will mature on Aug. 15, 2027, unless converted, redeemed or repurchased before then.
- Interest rate, initial conversion rate and other terms will be determined at the pricing of the offering.
- POST will settle conversions by paying or delivering cash, shares or a combination of cash and stock, at its election.
- The firm intends to use a portion of the net proceeds to repurchase up to $100M of shares concurrently with the offering.
- Remaining proceeds will be used for general corporate purposes.
For further details see:
Post Holdings announces $400M convertible senior note offering