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Fortune Brands prices public offering of USD600m senior unsecured notes due 2023.

M2 EQUITYBITES-September 20, 2018-Fortune Brands prices public offering of USD600m senior unsecured notes due 2023


Fortune Brands Home & Security Inc (NYSE:FBHS) priced a registered public offering of USD600m total of 4.000% senior unsecured notes maturing in 2023, the company reported on Thursday.

Net proceeds will be used by the company to pay down its current revolving credit facility and also to close the offering that is subject to customary closing conditions, on 21 September 2018.

The offering is being made under an effective shelf registration statement (including a base prospectus) that the company has on file with the US Securities and Exchange Commission.

Fortune Brands creates products and services and operates through segments like Plumbing, Cabinets and Doors & Security. These brands include Moen, Perrin & Rowe, Riobel, Rohl, Shaws and Victoria + Albert under the Global Plumbing Group (GPG); more than a dozen core brands under MasterBrand Cabinets; Therma-Tru entry door systems, Fiberon outdoor performance materials and Master Lock and SentrySafe security products.

The company is based in Deerfield, Illinois, USA.

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Publication:M2 EquityBites (EQB)
Date:Sep 20, 2018
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