Prestige Brands To Commence Offer For $250 Mln 8.25% Senior Notes Due 2018

(RTTNews) - Prestige Brands Holdings, Inc. (PBH) Tuesday said its wholly-owned subsidiary, Prestige Brands, Inc. plans to commence a cash tender offer and consent solicitation with respect to its outstanding $250.0 million aggregate principal amount of 8.25 percent senior notes due 2018.

The tender offer and consent solicitation will expire on December 31, unless extended or earlier terminated.

Holders who validly tender and whose 2018 notes are accepted for payment will receive the total consideration equal to $1,063.30 per $1,000 principal amount of 2018 notes, plus any accrued and unpaid interest on the 2018 notes up to, but not including, the first settlement date.

The total consideration includes a consent payment of $30.00 per $1,000 principal amount of 2018 notes.