- Fortune Brands Home & Security Inc FBHS has priced a registered public offering of $900 million of senior unsecured notes on March 22.
- The notes consist of a $450 million aggregate principal amount of 4.000% senior unsecured notes maturing in 2032 and a $450 million aggregate principal amount of 4.500% senior unsecured notes maturing in 2052.
- The weighted-average interest rate will be approximately 3.950%.
- "Demand for our offering was strong and was initially over-subscribed by more than four times our targeted capital raise," said CFO Patrick Hallinan.
- The company intends to use the net proceeds from the notes offering to pay down a portion of its current term loan and for general corporate purposes.
- Price Action: FBHS shares are trading higher by 0.12% at $77.69 on the last check Monday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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