Prestige Brands To Offer Up To $400 Mln Of New Senior Notes Due 2021

(RTTNews) - Prestige Brands Holdings, Inc. (PBH) Tuesday said its wholly-owned subsidiary, Prestige Brands, Inc., intends to offer, up to $400 million in aggregate principal amount of new senior notes due 2021 in a private offering.

The notes will be senior unsecured obligations of Prestige Brands. They will be guaranteed by the company and certain of its domestic subsidiaries.

The company intends to use the net proceeds from the proposed offering to repurchase its outstanding 8.25 percent senior notes due 2018, to repay loans outstanding under its existing senior secured credit facility, to pay related fees and expenses and for general corporate purposes.