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
