Central Garden & Pet Prices $400 Million of Senior Subordinated Notes Due 2018
February 26 2010 - 10:49AM
Business Wire
Central Garden & Pet Company (NASDAQ:CENT) (NASDAQ:CENTA)
(“Central”) announced today that it has priced $400 million
aggregate principal amount of 8.25% senior subordinated notes due
2018. The notes will be unconditionally guaranteed on a senior
subordinated basis by each of its existing and future domestic
restricted subsidiaries with certain exceptions. Central intends to
use the net proceeds from the offering, together with available
cash, to purchase its outstanding 9-1/8% senior subordinated notes
due 2013 that holders tender pursuant to a tender offer it is
currently conducting, pay the outstanding indebtedness under its
senior term loan, and pay fees and expenses related to the
offering.
The notes will mature on March 1, 2018, and may be redeemed
prior to that date by the Company at applicable redemption
premiums. The offering is expected to close on March 8,
2010.
J.P. Morgan Securities Inc. and Oppenheimer & Co. Inc. are
the joint book-running managers for the offering, and SunTrust
Robinson Humphrey and Deutsche Bank Securities serve as
co-managers. The offering is being made only by means of a
prospectus and related prospectus supplement. Copies of the
prospectus and the prospectus supplement relating to the offering
may be obtained by contacting J.P. Morgan Securities Inc., 270 Park
Avenue, 8th Floor, New York, NY 10017, Attention: Syndicate Desk or
(800) 245-8812. The prospectus and the prospectus supplement may
also be obtained from the U.S. Securities and Exchange Commission’s
website at http://www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of
these securities in any state in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any state.
Central Garden & Pet Company is a leading innovator,
marketer and producer of quality branded 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 including the brands PENNINGTON®, SMART SEED™ and THE
REBELS™; wild bird feed and the brands PENNINGTON® and KAYTEE®;
weed and insect control and the brands AMDRO®, SEVIN®, IRONITE® and
Over 'N Out®; and decorative outdoor patio products and the brands
NORCAL®, NEW ENGLAND POTTERY® and MATTHEWS FOUR SEASONS™. 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™ and ZODIAC®; aquatics and
reptile and the brands OCEANIC®, AQUEON® and ZILLA®; bird &
small animal and the brands KAYTEE®, SUPER PET® and CRITTER TRAIL®;
dog & cat and the brands TFH™, NYLABONE®, FOUR PAWS®, PINNACLE®
and AVODENN®; and equine and the brands FARNAM®, BRONCO® and SUPER
MASK®. 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 approximately 4,000 employees,
primarily in North America and Europe. For additional information
on Central Garden & Pet Company, including access to Central's
SEC filings, please visit Central's website at www.central.com.
“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 the
Company’s Annual Report on Form 10-K, filed November 20, 2009 and
Central’s Quarterly Report on Form 10-Q, filed February 4, 2010,
and other Securities and Exchange Commission filings. Central
undertakes no obligation to publicly update these forward-looking
statements to reflect new information, subsequent events or
otherwise.
Central Garden and Pet (NASDAQ:CENT)
Historical Stock Chart
From Jun 2024 to Jul 2024
Central Garden and Pet (NASDAQ:CENT)
Historical Stock Chart
From Jul 2023 to Jul 2024