BellRing Brands Sells $840 Million of Junk Bonds in Deal Revival
- High-yield market had been largely quiet for about three weeks
- Protein-shake maker initially began marketing deal on Feb. 22
BellRing Brands
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BellRing Brands Inc. sold $840 million of junk bonds in a second attempt in about a week to raise debt after market volatility forced the protein shake maker to postpone its initial bond offering.
JPMorgan & Chase Co. led the sale of the notes due 2030, which priced with a 7% yield, according to a person familiar with the matter, who asked not to be identified because they’re not authorized to speak about it. Proceeds from the senior unsecured bond transaction will help fund its spinoff from Post Holdings Inc., the company said in Tuesday statement.