Prestige Consumer Healthcare to Refinance $400M in Senior Notes, Extending Maturity to 2034
PBH is trading near its 52-week low of $42.62 (13% above the low).
Summary
Prestige Consumer Healthcare announced a $400 million offering of new senior notes due 2034. The proceeds will be used to redeem its existing $400 million 5.125% Senior Notes due 2028. This debt refinancing extends the maturity of a significant portion of its debt by six years. The move comes after the company recently completed a $1.045 billion debt-funded acquisition of the Breathe Right brand and is facing a shareholder investigation.
At the time of this announcement, PBH was trading at $48.29 on NYSE in the Life Sciences sector, with a market capitalization of approximately $2.3B. The 52-week trading range was $42.62 to $81.65. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.