Newell Brands (NWL) said Thursday it plans to raise $1 billion through a private sale of senior unsecured notes maturing in 2028.
The offering will be exempt from SEC registration and depends on market conditions, with no guarantee it will be completed, the company said.
Net proceeds, along with existing cash, will be used to redeem $1 billion of its 4.200% senior notes due in 2026, it added.
Shares of the company were up about 3.5% in recent trading.
Price: 5.19, Change: +0.19, Percent Change: +3.70
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