ORRVILLE, Ohio, Dec. 4, 2017 /PRNewswire/ -- The J. M. Smucker
Company (NYSE: SJM) (the "Company") today announced the pricing of
$300 million aggregate principal
amount of 2.200% notes due 2019 (the "2019 Notes") and $500 million aggregate principal amount of 3.375%
notes due 2027 (the "2027 Notes" and, together with the 2019 Notes,
the "Notes").
The sale of the Notes is expected to close on December 7, 2017, and is pursuant to an
underwriting agreement dated December 4,
2017 between the Company and Merrill Lynch, Pierce, Fenner
& Smith Incorporated and J.P. Morgan Securities LLC, as
representatives of the underwriters.
The expected net proceeds from the offering of the Notes will be
approximately $793.9 million, after
deducting the underwriting discount and the Company's expenses
related to the offering. The Company intends to use the net
proceeds from the offering of the Notes to repay, redeem or
refinance $500.0 million in principal
amount of its unsecured senior notes due March 15, 2018, and for general corporate
purposes, which could include, but are not limited to, repayments
of other outstanding debt, capital expenditures or working capital,
and for funding of potential acquisitions.
The Company has filed a registration statement on Form S-3
(including a prospectus) (the "Registration Statement") with the
Securities and Exchange Commission for this offering. Before
investing, investors should read the prospectus in the Registration
Statement and the prospectus supplement and other documents the
Company has filed or will file with the Securities and Exchange
Commission for more complete information about the Company and the
offering. These documents may be obtained for free by
visiting EDGAR on the Securities and Exchange Commission's
website. Alternatively, a copy of the prospectus and
prospectus supplement relating to the Notes can be obtained from
Merrill Lynch, Pierce, Fenner & Smith Incorporated at 200 North
College Street, NC1-004-03-43, Charlotte
NC 28255-0001, Attn: Prospectus Department, toll-free:
1-800-294-1322 or Email: dg.prospectus_requests@baml.com; or from
J.P. Morgan Securities LLC at 383 Madison Avenue, New York, NY 10179, Attention: Investment
Grade Syndicate Desk, or by calling 1-212-834-4533.
About The J. M. Smucker Company
For 120 years, The J.
M. Smucker Company has been committed to offering consumers quality
products that bring families together to share memorable meals and
moments. Today, Smucker is a leading marketer and
manufacturer of consumer food and beverage products and pet food
and pet snacks in North America. In consumer foods and
beverages, its brands include Smucker's®, Folgers®, Jif®, Dunkin'
Donuts®, Crisco®, Pillsbury®, R.W. Knudsen Family®, Hungry Jack®,
Café Bustelo®, Martha White®, truRoots®, Sahale Snacks®, Robin
Hood®, and Bick's®. In pet food and pet snacks, its brands
include Meow Mix®, Milk-Bone®, Kibbles 'n Bits®, Natural Balance®,
and 9Lives®. The Company remains rooted in the Basic Beliefs
of Quality, People, Ethics, Growth, and Independence established by
its founder and namesake more than a century ago.
The J. M. Smucker Company is the owner of all trademarks
referenced herein, except for the following, which are used under
license: Pillsbury® is a trademark of The Pillsbury Company, LLC,
and Dunkin' Donuts® is a registered trademark of DD IP Holder,
LLC.
Dunkin' Donuts® brand is licensed to The J. M. Smucker Company
for packaged coffee products sold in retail channels such as
grocery stores, mass merchandisers, club stores, and drug
stores. This information does not pertain to Dunkin' Donuts®
coffee or other products for sale in Dunkin' Donuts®
restaurants.
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SOURCE The J.M. Smucker Company