Healthcare Providers and Services
Company Overview of Prestige Brands, Inc.
Prestige Brands, Inc. markets, sells, and distributes over-the-counter healthcare and household cleaning products to retail outlets in the United States, Canada, and selected international markets. It offers digestive care, hygiene, oral care, pain relief, pediatric care, sleep aids, women’s health, and skin care products, as well as eye, ear, nose, and throat care products. The company was founded in 1996 and is based in Tarrytown, New York. Prestige Brands, Inc. operates as a subsidiary of C. B. Fleet Holding Company, Inc. & CIE, SCS.
660 White Plains Road
Tarrytown, NY 10591
Founded in 1996
Key Executives for Prestige Brands, Inc.
Chief Executive Officer and President
Vice President of Operations
Senior Vice President of Canada, Woman’S Health, and Strategic Planning
Senior Vice President of International
Compensation as of Fiscal Year 2017.
Prestige Brands, Inc. Key Developments
Prestige Brands, Inc. Enters in to the Term Loan Credit Agreement
Jan 31 17
On January 26, 2017, Prestige Brands Holdings, Inc. and its wholly-owned subsidiary, Prestige Brands, Inc. entered into amendment No. 4 to the term loan credit agreement, dated as of January 31, 2012, among the borrower, the company, the other guarantors from time to time party thereto, each lender from time to time party thereto and Citibank, N.A. as administrative agent and amendment no. 6 to the ABL credit agreement (as amended by that certain Incremental Amendment, dated as of September 12, 2012, that certain Incremental Amendment, dated as of June 11, 2013, that certain Amendment dated as of September 3, 2014, that certain Amendment dated as of June 9, 2015 and that certain Amendment, dated as of February 4, 2016, the “ABL Credit Agreement”), dated as of January 31, 2012, among the Borrower, the Company, the other guarantors from time to time party thereto, each lender from time to time party thereto and Citibank, N.A., as administrative agent, L/C issue and swing line lender. The Term Loan Amendment provides for the refinancing of the borrower’s outstanding term loans and the creation of a new class of Term B-4 Loans under the term loan credit agreement in an aggregate principal amount of $1.427 billion, increased flexibility under the term loan credit agreement, including but not limited to additional investment, restricted payment and debt incurrence flexibility and financial maintenance covenant relief and an interest rate on the term B-4 loans that is based, at the borrower’s option, on a LIBOR rate plus a margin of 2.75% per annum, with a LIBOR floor of 1.00%, or an alternative base rate plus a margin (with a margin step-down to 2.50% per annum based upon achievement of a specified first lien net leverage ratio). In addition, Citibank, N.A. was succeeded by Barclays Bank PLC as administrative agent under the Term Loan Credit Agreement. The ABL Amendment provides for a $40 million increase in revolving commitments under the ABL Credit Agreement, an extension of the maturity date of revolving commitments to January 26, 2022 and increased flexibility under the ABL Credit Agreement, including but not limited to additional investment, restricted payment and debt incurrence flexibility consistent with the Term Loan Amendment. The Company intends to use the net proceeds from the Term B-4 Loans and any borrowings under the ABL Credit Agreement to finance the previously announced acquisition of C.B. Fleet Company, Inc. (“Fleet”), to refinance its outstanding term loans, to pay fees and expenses incurred in connection with these transactions and for general corporate purposes.
Prestige Brands Inc. Announces Offering of $350.0 Million in Aggregate Principal Amount of 6.375% Senior Notes Due 2024
Feb 16 16
Prestige Brands Inc. has priced an offering of $350.0 million in aggregate principal amount of 6.375% senior notes due 2024 in a private offering. The sale of the notes is expected to be completed on or about February 19, 2016, subject to customary closing conditions. The notes will be senior unsecured obligations of Prestige Brands and will be guaranteed by the Company and certain of its subsidiaries. The Company intends to use the net proceeds from the offering to redeem all of Prestige Brands' outstanding 8.125% Senior Notes due 2020, to repay the bridge credit facility entered into on February 4, 2016 in connection with the Company's closing of the acquisition of DenTek Holdings Inc., to pay related fees and expenses and for general corporate purposes. The notes and the 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. 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 absent registration or an applicable exemption from the registration requirements. This report shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the notes and related guarantees in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
Prestige Brands, Inc. Announces Offering of $350 Million Senior Notes
Feb 16 16
Prestige Brands Holdings Inc. announced that its wholly-owned subsidiary, Prestige Brands Inc., intends to offer, subject to market and other conditions, up to $350.0 million in aggregate principal amount of new senior notes due 2024 in a private offering. 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 proposed offering to redeem all of Prestige Brands’ outstanding 8.125% Senior Notes due 2020, to repay the bridge credit facility entered into on February 4, 2016 in connection with the company’s closing of the acquisition of DenTek Holdings Inc., to pay related fees and expenses and for general corporate purposes. Prestige Brands has given notice of its intention to redeem all of the 2020 notes pursuant to the indenture governing the 2020 notes, at a redemption price equal to 104.063% of the principal amount thereof (or $1,040.63 per $1,000 in principal amount), plus accrued and unpaid interest to the date of redemption. The redemption of the 2020 notes is conditioned on the completion of an offering of new unsecured senior notes in an aggregate principal amount of at least $350.0 million. Prestige Brands may waive the Financing Condition in its sole discretion.
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