Scotts Miracle-Gro (NYSE:SMG) revealed Friday the expiration and results of its previously announced registered exchange offer for 4.375% senior notes due 2032. The $400 million aggregate principal amount of 4.375% senior notes was issued in a private placement in August 2021.
The exchange offer expired on January 10, 2022. As of that time, $400 million aggregate principal amount, or 100.0%, of the original notes had been validly tendered for exchange and not validly withdrawn, and they were accepted for exchange in the exchange offer.
The Ohio-based company expects the settlement of the exchange offer will occur on or about January 26, 2022.
The exchange offer was made to satisfy ScottsMiracle-Gro’s obligations under a registration rights agreement entered into in August 2021 in connection with the issuance of the original notes and does not represent a new financing transaction.
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Price Action
ScottsMiracle-Gro shares traded 0.48% lower at $153.50 per share during Friday's pre-market session.
