US private-label food maker Ralcorp Holdings on Friday (14 August) sold US$300m of senior notes to help pay down debt.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The offering of its 6.625% senior notes due 2039 in a private placement, were priced at 99.702% of par value (before initial purchasers’ discount).
The notes were sold to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended.
Ralcorp said it intends to use the net proceeds from the offering to refinance certain outstanding indebtedness. The remainder of the proceeds will be used for “general corporate purposes”.
Earlier this month the company posted mixed results for its fiscal third quarter, with sales and net income up but earnings per share down on costs linked to last year’s Post cereals acquisition.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataRalcorp, which makes a range of own-label snacks, sauces and spreads, booked earnings per share of US$1.31 for the three months to 30 June – against $1.73 a year earlier.
