Central Garden & Pet Announces Pricing of $500 Million of Senior Notes
October 01 2020 - 4:45PM
Business Wire
Central Garden & Pet Company (NASDAQ: CENT) (NASDAQ: CENTA)
(“Central”), announced today it has priced an offering of $500
million aggregate principal amount of 4.125% senior notes due 2030
(the “notes”), which represents an increase in the offering size of
$100 million from the previously announced offering of $400
million. The sale of the notes is expected to close on October 16,
2020, subject to customary closing conditions. The notes will be
unconditionally guaranteed on a senior basis by each of Central’s
existing and future domestic restricted subsidiaries who are
borrowers under or guarantors of Central’s senior secured revolving
credit facility or guarantee Central’s other debt. Central intends
to use the net proceeds from the offering to redeem its outstanding
6.125% senior notes due 2023 (the “existing notes”), and to pay
related fees and expenses, with the remainder for general corporate
purposes.
BofA Securities, Inc, J.P. Morgan Securities LLC and Truist
Securities, Inc. will serve as joint book-running managers for the
offering, and BMO Capital Markets Inc., KeyBanc Capital Markets
Inc. and U.S. Bancorp Investments, Inc. will serve as
co-managers.
Copies of the prospectus relating to the offering may be
obtained by contacting BofA Securities, Inc, NC1-004-03-43; 200
North College Street, 3rd Floor, Charlotte, NC 28255-0001,
Attention: Prospectus Department or by calling 1-800-294-1322; J.P.
Morgan Securities LLC., c/o Broadridge Financial Solutions,
Attention: Prospectus Department, 1155 Long Island Avenue,
Edgewood, NY 11717 or by calling 1-866-803-9204; or Truist
Securities, Inc., 3333 Peachtree Road NE, 9th floor, Atlanta,
Georgia 30326, Attention: Prospectus Department or by calling
1-404-926-5906. The prospectus may also be obtained from the U.S.
Securities and Exchange Commission’s website at
http://www.sec.gov.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy any securities. Offers of
securities will be made only by means of a prospectus filed with
the U.S. Securities and Exchange Commission. The prospectus is part
of a shelf registration statement that has become effective under
the Securities Act of 1933, as amended. In addition, this press
release does not constitute a notice of redemption with respect to
the existing notes. Any such notice of redemption will be
separately issued by Central when and if the existing notes are
called for redemption.
About Central Garden & Pet
Central Garden & Pet Company is a leading innovator,
producer and distributor of branded and private label products for
the lawn & garden and pet supplies markets. Committed to new
product innovation, our products are sold to specialty independent
and mass retailers. Participating categories in Lawn & Garden
include: Grass seed and the brands PENNINGTON®, and THE REBELS®;
wild bird feed and the brand PENNINGTON®; weed and insect control
and the brands AMDRO®, SEVIN®, and OVER-N-OUT®; fertilizer and the
brands PENNINGTON® and IRONITE®; live plants from BELL NURSERY;
outdoor cushions and pillows from ARDEN COMPANIES; and decorative
outdoor patio products under the PENNINGTON® brand. We also provide
a host of other regional and application-specific garden brands and
supplies. Participating categories in Pet include: Animal health
and the brands ADAMS™, COMFORT ZONE®, FARNAM®, HORSE HEALTH™ and
VITAFLEX®; aquatics and reptile and the brands AQUEON®, CORALIFE®,
SEGREST™ and ZILLA®; bird & small animal and the brands
KAYTEE®, Forti-Diet® and CRITTER TRAIL®; and dog & cat and the
brands TFH™, NYLABONE®, FOUR PAWS®, IMS®, CADET®, DMC™, K&H Pet
Products™, PINNACLE® and AVODERM®. We also provide a host of other
application-specific pet brands and supplies. Central Garden &
Pet Company is based in Walnut Creek, California, and has over
6,000 employees, primarily in North America.
“Safe Harbor” Statement under the Private
Securities Litigation Reform Act of 1995
The statements contained in this release which are not
historical facts are forward-looking statements that are subject to
risks and uncertainties that could cause actual results to differ
materially from those set forth in or implied by forward-looking
statements. These risks are described in Central’s Annual Report on
Form 10-K, filed on November 27, 2019, Central’s Quarterly Reports
on Form 10-Q, filed on February 6, 2020, May 7, 2020 and August 6,
2020, Central’s Preliminary Prospectus Supplement, filed on October
1, 2020 as well as Central’s other U.S. Securities and Exchange
Commission filings. Central undertakes no obligation to publicly
update these forward-looking statements to reflect new information,
subsequent events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20201001006125/en/
Friederike Edelmann VP - Investor Relations Central Garden &
Pet Company 925-948-3657
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