J.M. Smucker taps corporate bond market to fund cash portion of Hostess Brands deal

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 26 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 97%

대한민국 뉴스 뉴스

대한민국 최근 뉴스,대한민국 헤드 라인

Smucker is buying the Twinkies parent in a cash-and-stock deal valued at $5.6 billion

J.M. Smucker Co. is tapping the investment-grade corporate bond market on Wednesday with a deal to finance its acquisition of Twinkies and HoHos maker Hostess Brands Inc.

The company is planning a four-tranche deal, according to a regulatory filing, comprised of five-year, 10-year, 20-year and 30-year fixed rate notes, according to market sources. Smucker is rated Baa3 by Moody’s and BBB by S&P Global Ratings. The company will pay Hostess shareholders $30.00 in cash and 0.03002 J.M. Smucker shares for each Hostess share they own. That valued Hostess shares at $34.25 each, or a 21.8% premium over the prior session’s closing price when the deal was announced.

이 소식을 빠르게 읽을 수 있도록 요약했습니다. 뉴스에 관심이 있으시면 여기에서 전문을 읽으실 수 있습니다. 더 많은 것을 읽으십시오:

 /  🏆 3. in KR
 

귀하의 의견에 감사드립니다. 귀하의 의견은 검토 후 게시됩니다.

대한민국 최근 뉴스, 대한민국 헤드 라인