Post holdings announces $1.3 billion senior notes offering

ST. LOUIS - Post Holdings, Inc. (NYSE:POST) announced Monday its intention to commence a private offering of $1.3 billion in aggregate principal amount of senior notes due 2036, subject to market conditions. The consumer packaged goods company, currently trading at $104.03 with a market capitalization of $5.43 billion, is making this move amid a challenging year that has seen its stock decline 9.11% year-to-date.

According to a press release statement, the notes will be unsecured, senior obligations guaranteed by the company’s existing and future domestic subsidiaries, with certain exceptions.

The consumer packaged goods holding company plans to use the net proceeds to redeem all of its outstanding 5.50% senior notes due 2029, including associated premiums and fees. Any remaining proceeds would be directed toward general corporate purposes, which could include acquisitions, debt retirement, share repurchases, capital expenditures, or working capital.

The redemption of the 2029 notes is expected to occur after December 15, 2025, though the offering itself is not conditioned upon this redemption.

The notes and related subsidiary guarantees are being offered to qualified institutional buyers under Rule 144A of the Securities Act of 1933 and to non-U.S. persons outside the United States under Regulation S. The securities have not been registered under the Securities Act and may not be offered or sold in the United States except pursuant to an exemption from registration requirements.

Post Holdings is headquartered in St. Louis and operates businesses in the center-of-the-store, refrigerated, foodservice, and food ingredient categories.

In other recent news, Post Holdings reported stronger-than-expected fourth-quarter results, with an EBITDA of $425.4 million, surpassing Stifel’s estimate by $24 million. Despite the positive earnings per share of $2.09, which exceeded forecasts, the company fell short on revenue, reporting $2.2 billion against an anticipated $2.25 billion. The company’s full-year EBITDA was approximately $20 million above the high end of its guidance range, driven by a robust performance in the Foodservice segment. In addition, Post Holdings announced a new $500 million share repurchase program, effective November 27, 2025, replacing the previous program under which $275.2 million had already been repurchased.

Evercore ISI recently lowered its price target for Post Holdings to $129.00 from $131.00, citing concerns about trends in the high-margin cereal business. The firm maintained an Outperform rating despite trimming its fiscal year 2026 EBITDA estimate by 1%. Furthermore, Post Holdings granted equity awards to several executive officers as part of its Amended and Restated 2021 Long-Term Incentive Plan. Stifel reiterated its Buy rating on the stock following the strong earnings report.

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