Prestige Consumer Healthcare Inc. Announces Offering of $400 Million Senior Notes

Prestige Consumer Healthcare (NYSE: PBH) plans a private offering of up to $400 million senior unsecured notes due 2034 through subsidiary Prestige Brands.

Rhea-AI Summary

Prestige Consumer Healthcare (NYSE: PBH) plans a private offering of up to $400 million senior unsecured notes due 2034 through subsidiary Prestige Brands.

According to Prestige Consumer Healthcare, net proceeds and cash on hand are intended to redeem all $400 million 5.125% senior notes due 2028 and pay related fees.

Positive

• Plans offering of up to $400 million senior notes due 2034
• Intends to redeem $400 million 5.125% notes due 2028 at 100% plus accrued interest
• Redemption funding to come from new notes and cash on hand

Negative

• Redemption of 2028 notes is conditioned on completing at least $400 million new notes offering
• New notes will be senior unsecured, implying no additional collateral support
• Notes are offered privately under Rule 144A/Reg S, limiting direct access for retail investors

Argus Jun 30 session

-1.58% close to close Open Argus

Details

News Market Reaction – PBH

On Jun 30, the day this news came out, PBH closed 1.58% below the previous close.

Data tracked by StockTitan Argus for the Jun 30 session.

Market Context

This announcement outlines a private $400 million senior note offering maturing in 2034 to redeem $4...

Analysis

This announcement outlines a private $400 million senior note offering maturing in 2034 to redeem $400 million of 5.125% 2028 notes. It fits PBH’s acquisition‑driven strategy; investors should monitor final pricing, covenants, and resulting leverage metrics.

Key Figures

New senior notes size: $400 million Maturity of new notes: 2034 Existing notes to redeem: $400 million +3 more

New senior notes size

$400 million

Proposed aggregate principal amount of senior notes due 2034

Maturity of new notes

2034

Stated maturity year of the new senior notes

Existing notes to redeem

$400 million

Outstanding 5.125% Senior Notes due 2028 targeted for redemption

Coupon on 2028 notes

5.125%

Interest rate on Prestige Brands’ Senior Notes due 2028

Redemption price

100.0% of principal

Redemption price for 2028 notes, plus accrued and unpaid interest

Financing condition size

$400 million

Minimum aggregate principal amount of new unsecured senior notes required

Historical Context

5 past events · Latest: Jun 15

5 events

1. Jun 15

   Acquisition completion

   24h Move

   -2.4%

   Closed Breathe Right acquisition, making it the company’s largest brand.

2. Jun 05

   Conference participation

   24h Move

   +3.8%

   Announced virtual fireside chat at Oppenheimer consumer growth conference.

3. May 13

   Earnings & acquisition

   24h Move

   -11.3%

   Reported revenue decline and announced LaCorium Health acquisition alongside guidance.

4. Apr 30

   Earnings date set

   24h Move

   +0.5%

   Scheduled fiscal 2026 Q4 and year‑end earnings release and conference call.

5. Mar 20

   Acquisition agreement

   24h Move

   +1.6%

   Agreed to acquire Breathe Right and related brands in large cash deal.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

senior notes, senior unsecured obligations, redemption price, rule 144a, +1 more

5 terms

senior notes financial

"intends to offer, subject to market and other conditions, up to $400 million in aggregate principal amount of new senior notes due 2034"

Senior notes are a type of loan that a company borrows from investors, promising to pay it back with interest. They are called "senior" because in case the company faces financial trouble, these lenders are paid back before others. This makes senior notes safer for investors compared to other types of loans or bonds.

senior unsecured obligations financial

"The notes will be senior unsecured obligations of Prestige Brands and will be guaranteed"

Senior unsecured obligations are loans or bonds that a company promises to pay back with its own money, but without any special guarantees or collateral. If the company runs into financial trouble, these debts are paid after other debts with priority, meaning they are less protected but still important. They matter because they show how risky it is to lend money to a company.

redemption price financial

"at a redemption price equal to 100.0% of the principal amount thereof, plus accrued"

The redemption price is the amount of money a person receives when they sell or redeem a bond or investment before it matures. It’s important because it determines how much you get back and can affect your overall profit or loss on the investment. Think of it like the price you get when returning a gift card early—it's the value you receive at that time.

rule 144a regulatory

"offered only to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933"

Rule 144A is a regulation that makes it easier for companies to sell private bonds to large investors without going through all the usual rules that apply to public sales. It matters because it helps companies raise money more quickly and privately, often attracting big investors looking for special deals.

regulation s regulatory

"outside the United States, to persons other than “U.S. persons” in compliance with Regulation S under the Securities Act"

Regulation S is a set of rules that allows companies to sell securities (like shares or bonds) to investors outside the United States without having to follow all U.S. securities laws. It matters because it makes it easier for companies to raise money from international investors while still complying with U.S. regulations.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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TARRYTOWN, N.Y., June 30, 2026 (GLOBE NEWSWIRE) -- Prestige Consumer Healthcare Inc. (NYSE: PBH) (the “Company”) announced today that its wholly-owned subsidiary, Prestige Brands, Inc. (“Prestige Brands”), intends to offer, subject to market and other conditions, up to $400 million in aggregate principal amount of new senior notes due 2034 (the “notes”) 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, together with cash on hand, to redeem all $400 million of Prestige Brands’ outstanding 5.125% Senior Notes due 2028 (the “2028 notes”), and to pay related fees and expenses.

Prestige Brands expects to give notice of its intention to redeem the 2028 notes pursuant to the indenture governing the 2028 notes, at a redemption price equal to 100.0% of the principal amount thereof, plus accrued and unpaid interest to the date of redemption. The redemption of the 2028 notes is conditioned on the completion of an offering of new unsecured senior notes in an aggregate principal amount of at least $400 million (the “Financing Condition”). Prestige Brands may waive the Financing Condition in its sole discretion.

The notes and related guarantees are being offered only to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”) or, outside the United States, to persons other than “U.S. persons” in compliance with Regulation S under the Securities Act. This press release does not constitute an offer to sell or the solicitation of an offer to buy the notes and related guarantees. Any offers of the notes and related guarantees will be made only by means of a private offering memorandum. 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 without registration or an applicable exemption from registration requirements.

About Prestige Consumer Healthcare Inc.

Prestige Consumer Healthcare markets, sells, manufactures and distributes consumer healthcare products to retail outlets throughout the U.S. and Canada, Australia, and in certain other international markets. The Company’s diverse portfolio of brands include Breathe Right® nasal strips, Monistat ® and Summer’s Eve ® women’s health products, BC ® and Goody’s ® pain relievers, Clear Eyes® and TheraTears®  eye care products, DenTek® specialty oral care products, Dramamine® motion sickness treatments, Fleet® enemas and glycerin suppositories, Chloraseptic® and Luden’s ® sore throat treatments and drops, Compound W® wart treatments, Little Remedies® pediatric over-the-counter products, Boudreaux’s Butt Paste ® diaper rash ointments, Nix® lice treatment, Debrox® earwax remover, Gaviscon® antacid in Canada, and Hydralyte® rehydration products and the Fess® line of nasal and sinus care products in Australia.

Note Regarding Forward-Looking Statements

This news release contains “forward-looking statements” within the meaning of the federal securities laws that are intended to qualify for the Safe Harbor from liability established by the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” generally can be identified by the use of forward-looking terminology such as “intends,” “expects,” “may,” and “will” (or the negative or other derivatives of each of these terms) or similar terminology. The “forward-looking statements” include, without limitation, statements regarding the Company’s expectations regarding the offering of the notes and the redemption of the 2028 notes. These statements are based on management’s estimates and assumptions with respect to future events and financial performance and are believed to be reasonable, though are inherently uncertain and difficult to predict. Actual results could differ materially from those expected as a result of a variety of factors, including general economic and business conditions. A discussion of other factors that could cause results to vary is included in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2026 and other periodic reports filed with the Securities and Exchange Commission.

Investor Relations Contact
914-524-6819
irinquiries@prestigebrands.com

Source: Prestige Consumer Healthcare Inc.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Prestige Consumer Healthcare (PBH) announce about its $400 million senior notes offering on June 30, 2026?

Prestige Consumer Healthcare announced a planned private offering of up to $400 million senior unsecured notes due 2034. According to Prestige Consumer Healthcare, the notes will be issued by subsidiary Prestige Brands and guaranteed by the parent company and certain domestic subsidiaries.

How will Prestige Consumer Healthcare (PBH) use the proceeds from the new 2034 senior notes?

Prestige Consumer Healthcare intends to use net proceeds, plus cash on hand, to redeem all $400 million 5.125% senior notes due 2028. According to Prestige Consumer Healthcare, proceeds will also cover related fees and expenses linked to the redemption.

What is the financing condition tied to Prestige Consumer Healthcare’s redemption of its 2028 notes?

The 2028 note redemption is conditioned on completing an offering of at least $400 million new unsecured senior notes. According to Prestige Consumer Healthcare, Prestige Brands may waive this “Financing Condition” at its sole discretion before proceeding.

At what price will Prestige Consumer Healthcare redeem its existing 5.125% senior notes due 2028?

Prestige Consumer Healthcare expects to redeem the 2028 notes at 100.0% of principal plus accrued and unpaid interest. According to Prestige Consumer Healthcare, the redemption will follow the indenture governing the existing 5.125% senior notes due 2028.

Who can participate in Prestige Consumer Healthcare’s new senior notes offering under symbol PBH?

The new notes are being offered only to qualified institutional buyers under Rule 144A and certain non-U.S. investors under Regulation S. According to Prestige Consumer Healthcare, the securities are unregistered and not available to general U.S. retail investors.

Are Prestige Consumer Healthcare’s new 2034 senior notes registered under the Securities Act?

The new senior notes and guarantees have not been registered under the Securities Act or other jurisdictions’ laws. According to Prestige Consumer Healthcare, they cannot be offered or sold in the United States without registration or an applicable exemption.