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    Prestige Brands, Inc. Announces Proposed Offering of $290 Million Senior Notes

    IRVINGTON, N.Y.--(BUSINESS WIRE)--Jan. 13, 2012-- Prestige Brands Holdings, Inc. (NYSE: PBH) (the “Company”) announced today that its wholly-owned subsidiary, Prestige Brands Inc. (“Prestige Brands”) intends to commence next week a private placement offering of $290 million in aggregate principal amount of new senior notes due 2020 (the “Notes”). The Notes will be senior unsecured obligations of Prestige Brands and will be guaranteed by the Company and certain of its domestic subsidiaries.

    The Company intends to use the net proceeds from the offering, together with additional senior secured bank debt, to finance the acquisition of seventeen over-the-counter brands from GlaxoSmithKline plc, to repay its existing senior secured credit facilities, to pay fees and expenses incurred in connection with these transactions and for general corporate purposes. The Notes and related guarantees are being offered only to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended or, outside the United States, to persons other than “U.S. persons” in compliance with Regulation S under the Securities Act. This press release does not constitute an offer to sell or the solicitation of an offer to buy the Notes and related guarantees. Any offers of the Notes and related guarantees will be made only by means of a private offering memorandum. The Notes and related guarantees have not been registered under the Securities Act, or the securities laws of any other jurisdiction, and may not be offered or sold in the United States without registration or an applicable exemption from registration requirements.

    About the Company

    Prestige Brands, Inc. markets and distributes brand name over-the-counter healthcare and household cleaning products throughout the United States, Canada, and certain international markets. Key brands include Chloraseptic® sore throat treatments, Clear Eyes® eye care products, Compound W® wart removers, the PediaCare® and Little Remedies® lines of children’s over-the-counter products, The Doctor’s® NightGuard® dental protector, Luden’s® throat drops, Efferdent® denture care products, Dramamine® motion sickness treatment, and the Comet® line of household cleaning products.

    Forward-Looking Statements

    This news release contains “forward-looking statements” within the meaning of the federal securities laws and is intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” generally can be identified by the use of the forward-looking terminology such as “assumptions,” “target,” “guidance,” “outlook,” “plans,” “projection,” “may,” “will,” “would,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “potential,” “continue,” (or the negative of other derivatives of each of these terms) or similar terminology. The “forward-looking statements” include, without limitation, statements regarding Prestige Brands’ issuance of the Notes and the entry into a new senior secured bank facilities. These statements are based on management’s estimates and assumptions with respect to future events, which include current capital and debt market conditions, the Company’s ability to obtain new debt financing on acceptable terms, and whether Prestige Brands will offer the Notes or consummate the offering, the anticipated terms of the Notes, and the anticipated use of proceeds from the proposed offering, which estimates are believed to be reasonable, though are inherently uncertain and difficult to predict. Actual results could differ materially from those projected as a result of certain factors. A discussion of factors that could cause actual results to vary is included in the Company’s Annual Report on Form 10-K and other periodic reports filed with the Securities and Exchange Commission.

    Source: Prestige Brands Holdings, Inc.

    Prestige Brands Holdings, Inc.
    Dean Siegal, 914-524-6819

    Primary IR Contact

    Irinquiries@prestigebrands.com
    Prestige Brands Holdings, Inc.
    660 White Plains Road – Ste 250
    Tarrytown, NY 10591
    Telephone: 914-524-6819

    Transfer Agent

    AST
    6201 15th Avenue
    Brooklyn, NY 11219
    Telephone: (800) 937-5449
    help@astfinancial.com
    https://www.astfinancial.com

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