trending Market Intelligence /marketintelligence/en/news-insights/trending/MfwRxzInduwfQCYHMOjWHw2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Newell Brands extends expiration date of $1.63B tender offers

Gauging Supply Chain Risk In Volatile Times

S&P Global Market Intelligence

Cannabis: Hashing Out a Budding Industry


IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help

The Market Intelligence Platform

Newell Brands extends expiration date of $1.63B tender offers

Newell Brands Inc. extended the expiration date of its upsized cash tender offers to purchase up to $1.63 billion of its outstanding securities to midnight Jan. 4, 2019, in light of the closing of executive departments and agencies of the U.S. federal government, including the Securities and Exchange Commission.

The company also adjusted its final settlement date to Jan. 8, 2019, according to a Dec. 26 news release.

The Hoboken, N.J.-based household goods company released the early results and pricing terms of the tender offers Dec. 19. As of Dec. 25, 5 p.m., ET, no additional securities have been tendered in the tender offers.

On Dec. 26, the early settlement date, the company paid for $252.1 million of its 3.150% notes due 2021, $1.08 billion of its 5.500% notes due 2046, $208.9 million of its 3.900% notes due 2025 and $80.2 million of its 5.375% notes due 2036, which had been validly tendered and not properly withdrawn at or prior to Dec. 18.

Holders of the 2021 notes who validly tender after Dec. 18 but before or at the expiration date, will only receive the total consideration minus $50. Since the waterfall offer was fully subscribed as of the early tender date, the company does not expect to accept for purchase any waterfall notes tendered after Dec. 18.

Newell Brands said it expects to fund the tender offers with cash on hand and the proceeds from divestitures under its Accelerated Transformation Plan, including the divestitures of the Pure Fishing Inc. and Jostens Inc. businesses.

Goldman Sachs & Co. LLC is the lead dealer manager and RBC Capital Markets LLC and Wells Fargo Securities LLC are acting as co-dealer managers. Global Bondholder Services Corp. is acting as the information and tender agent.