PreferredStockChannel
Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Sun, August 14, 9:31 PM
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Slide #141. Post Holdings, Inc. — Preferred Stock Offering
Company:
Post Holdings, Inc. (NYSE:POST)
Date announced:
11/19/2018
Preferred Stock Offering Details:
Post Holdings, Inc. (NYSE:POST) (the "Company" or "Post") today announced that it intends to commence a private offering to eligible purchasers, subject to market and other conditions, of approximately $400.0 million of a newly created series of convertible preferred stock, to be designated as Series D Cumulative Perpetual Convertible Preferred Stock (the "Preferred Stock"). The Company expects to grant the initial purchasers of the Preferred Stock a 30-day option to purchase up to an additional $60.0 million in shares of Preferred Stock. The Company intends to use the net proceeds from the offering to repay a portion of its existing term loan, which will expand capacity for cash acquisitions and opportunistic common share repurchases.
Post Holdings is a consumer packaged goods holding company. Co.'s segments include: Post Consumer Brands, which manufactures, markets and sells branded and private label ready-to-eat (RTE) cereal and hot cereal products; Weetabix, which markets and distributes branded and private label RTE cereal products; Foodservice, which produces and distributes egg and potato products; Refrigerated Retail, which produces and distributes side dishes, eggs and egg products, sausage, cheese and other dairy and refrigerated products; and BellRing Brands, which markets and distributes ready-to-drink (RTD) protein shakes, other RTD beverages, powders and nutrition bars in the nutrition category.
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Avg. Broker Rec.
 
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Strong Buy (3.60 out of 4) 58th percentile
(ranked higher than approx. 58% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com |
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