Bullish indicating open at $55-$60, IPO prices at $37
ATLANTA - Newell Brands Inc. (NASDAQ:NWL), a global consumer goods company currently trading at $12,694.10, has priced an offering of $1.25 billion in senior unsecured notes with an 8.50% interest rate, due in 2028. The offering is set to close on May 22, 2025, pending customary closing conditions.
The company plans to allocate the net proceeds from the notes sale, in combination with its available cash, to fully redeem its 4.200% senior notes due in 2026. The redemption will also cover related fees and expenses associated with the offering.
The notes are being offered to qualified institutional buyers under Rule 144A and to non-U.S. persons outside the United States under Regulation S of the Securities Act. They have not been registered under the Securities Act or any state securities laws and cannot be sold in the U.S. without registration or an exemption.
Newell Brands’ portfolio includes widely recognized brands such as Rubbermaid, Sharpie, and Yankee Candle. The company emphasizes consumer satisfaction as a core focus in its operations. The stock has shown resilience with a 7.75% return over the past year and trades between $11,100.90 and $13,248.89 over the past 52 weeks.
This press release contains forward-looking statements regarding the offering and the anticipated use of proceeds. These statements are subject to risks and uncertainties, and actual results could differ materially. Newell Brands regularly reports on these risks in filings with the Securities and Exchange Commission, including its most recent annual and quarterly reports. For detailed analysis and comprehensive insights, access the full InvestingPro Research Report, featuring expert analysis and key metrics for informed investment decisions.
The information for this article is based on a press release statement from Newell Brands.
In other recent news, Newell Brands announced plans for a $1 billion offering of senior unsecured notes due in 2028, aiming to use the proceeds to redeem existing notes and cover related expenses. This move follows the company’s fourth-quarter earnings report, which exceeded expectations in terms of earnings per share, despite weaker-than-anticipated core sales and operating profit margins. Analysts have reacted to these developments with mixed adjustments to their price targets for Newell Rubbermaid. Canaccord Genuity reduced its target to $14 while maintaining a Buy rating, citing the market’s overreaction to the company’s guidance. Meanwhile, UBS lowered its target to $8, maintaining a Neutral stance, noting uncertainties around tariffs and macroeconomic factors. Truist Securities retained a Buy rating with a $17 target, seeing the recent stock price decline as an opportunity for investors. Canaccord also adjusted its target to $11, maintaining a Buy rating, and acknowledged the company’s stable market position despite tariff concerns. These recent developments highlight varying analyst perspectives on Newell Brands’ future prospects.
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