Central Garden & Pet Announces Pricing of $400 Million of Senior Notes
April 16 2021 - 5:08PM
Business Wire
Central Garden & Pet Company (NASDAQ: CENT, CENTA)
(“Central”), announced today it has priced a private placement of
$400 million aggregate principal amount of 4.125% senior notes due
2031 (the “Notes”). The sale of the Notes is expected to close on
April 30, 2021, 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
which 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 repay
outstanding amounts under its senior secured revolving credit
facility and for general corporate purposes.
The Notes have not been, and will not be, registered under the
Securities Act of 1933, as amended (the “Securities Act”), or any
state securities laws, and may not be offered or sold in the United
States absent registration or an applicable exemption from
registration requirements. The Notes will be offered and sold to
persons reasonably believed to be qualified institutional buyers
pursuant to Rule 144A under the Securities Act and outside the
United States pursuant to Regulation S under the Securities
Act.
This press release is for informational purposes only and shall
not constitute an offer to buy or the solicitation of an offer to
sell any securities, nor shall there be any sale of the Notes in
any jurisdiction in which such offer, solicitation or sale would be
unlawful.
About Central Garden & Pet
Central Garden & Pet Company understands that home is
central to life and has proudly nurtured happy and healthy homes
for over 40 years. With 2020 net sales of $2.7 billion, Central is
on a mission to lead the future of the pet and garden industries.
The Company’s innovative and trusted products are dedicated to help
lawns grow greener, gardens bloom bigger, pets live healthier and
communities grow stronger. Central is home to a leading portfolio
of more than 65 high-quality brands including Pennington, Nylabone,
Kaytee, Amdro and Aqueon, strong manufacturing and distribution
capabilities and a passionate, entrepreneurial growth culture.
Central is based in Walnut Creek, California and has over 6,300
employees across North America and Europe.
“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 24, 2020, Central’s Quarterly Report
on Form 10-Q, filed on February 4, 2021, 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210416005558/en/
Investor Relations Contact: Friederike Edelmann (925) 412 6726
fedelmann@central.com
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