Summary
Church & Dwight Co., Inc. (CHD) filed an 8-K on September 21, 2012, to report a material definitive agreement related to the issuance of senior notes. Specifically, the Company entered into an underwriting agreement on September 19, 2012, to sell $400 million aggregate principal amount of 2.875% Senior Notes due 2022. This debt issuance is intended to partially fund the previously announced acquisition of Avid Health, Inc. The notes are registered under an effective shelf registration statement. Investors should note that this filing primarily concerns the financing aspect of the Avid Health acquisition, detailing the terms of the debt offering and the agreement with the underwriters, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Deutsche Bank Securities Inc.
Key Highlights
- 1Church & Dwight Co., Inc. entered into an underwriting agreement on September 19, 2012.
- 2The agreement is for the sale of $400 million aggregate principal amount of 2.875% Senior Notes due 2022.
- 3The issuance of these notes is intended to partially fund the acquisition of Avid Health, Inc.
- 4The underwriters for this debt offering include Merrill Lynch, Pierce, Fenner & Smith Incorporated and Deutsche Bank Securities Inc.
- 5The notes are being issued under the Company's effective shelf registration statement on Form S-3.
- 6The closing of the note issuance is expected to occur on September 26, 2012, subject to customary conditions.
- 7The underwriting agreement contains standard representations, warranties, conditions, and termination provisions, along with indemnification clauses.