Tupperware Brands Announces Offering of $400 Million of Senior Notes due 2021

Tupperware Brands Corporation TUP announced today that it plans to offer $400 million of Senior Notes due 2021, subject to market and other conditions. The notes will be guaranteed on a senior secured basis by Dart Industries Inc., a wholly owned subsidiary of the Company. The collateral securing the guarantee will consist of certain "Tupperware" trademarks, service marks and logo formats owned by Dart Industries Inc. The net proceeds from the issuance of the notes, along with borrowings under a new credit facility that the Company plans to enter into in connection with the offering, will be used to repay all of the Company's $405 million outstanding term loans.