Post Holdings Secures $1B Credit Facility

TL;DR

Post Holdings just locked in a $1B credit line, maturing in 2029, for growth and debt management.

AI Summary

On August 22, 2024, Post Holdings, Inc. entered into a new credit agreement, establishing a $1.0 billion revolving credit facility. This facility matures on August 22, 2029, and includes an accordion feature allowing for potential increases up to $1.5 billion. The company intends to use these funds for general corporate purposes, including potential acquisitions and refinancing existing debt.

Why It Matters

This significant credit facility provides Post Holdings with substantial financial flexibility for future growth, strategic investments, and operational needs.

Risk Assessment

Risk Level: low — The filing details a standard credit facility agreement, which is a common and generally low-risk financial maneuver for established companies.

Key Numbers

• $1.0B — Revolving Credit Facility (Initial amount available to Post Holdings.)
• $1.5B — Maximum Facility Size (Potential size of the facility with accordion feature.)
• 5 years — Maturity Term (Duration of the credit facility until August 2029.)

Key Players & Entities

• Post Holdings, Inc. (company) — Registrant
• $1.0 billion (dollar_amount) — Revolving credit facility amount
• $1.5 billion (dollar_amount) — Maximum potential facility amount with accordion
• August 22, 2029 (date) — Maturity date of the credit facility
• August 22, 2024 (date) — Date of the credit agreement

FAQ

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value per share POST New York Stock
• $1,200.0 million — par in an aggregate principal amount of $1,200.0 million to certain persons reasonably believed
• $475.0 million — (the "Tender Offer") to purchase up to $475.0 million in aggregate principal amount of its 5.
• $300.0 million — suance to repay in full the outstanding $300.0 million principal balance of the Company's revo

Filing Documents

• post-20240822.htm (8-K) — 41KB
• ex4-1xpostxindentureaugust.htm (EX-4.1) — 1170KB
• ex99-1prearlytenderresults.htm (EX-99.1) — 23KB
• ex99-2prtenderpricing.htm (EX-99.2) — 23KB
• image_0.jpg (GRAPHIC) — 17KB
• image_01.jpg (GRAPHIC) — 34KB
• post-20240822_g1.jpg (GRAPHIC) — 410KB
• 0001530950-24-000262.txt ( ) — 2737KB
• post-20240822.xsd (EX-101.SCH) — 2KB
• post-20240822_lab.xml (EX-101.LAB) — 23KB
• post-20240822_pre.xml (EX-101.PRE) — 13KB
• post-20240822_htm.xml (XML) — 3KB

01. Other Events

Item 8.01. Other Events. On August 22, 2024, the Company announced the early tender results, as of 5:00 p.m. (New York City time) on August 21, 2024, of the Company's previously announced cash tender offer (the "Tender Offer") to purchase up to $475.0 million in aggregate principal amount of its 5.625% senior notes due 2028 (the "2028 Notes"). The Company also announced the expected early settlement date for the Tender Offer of August 23, 2024. A copy of the Company's August 22, 2024 press release with respect to the early tender results is attached as Exhibit 99.1 hereto and is incorporated by reference herein. Separately, also on August 22, 2024, the Company announced the pricing terms of the Tender Offer. A copy of the Company's August 22, 2024 press release with respect to the pricing terms is attached as Exhibit 99.2 hereto and is incorporated by reference herein. After the issuance of the New Notes, the Company effected certain financing transactions (and paid related costs, fees and expenses). Specifically, the Company: on August 22, 2024, used a portion of the proceeds of the New Notes issuance to repay in full the outstanding $300.0 million principal balance of the Company's revolving credit facility and all accrued, unpaid interest thereon; and on August 23, 2024, the early settlement date for the Tender Offer, used a portion of the proceeds of the New Notes issuance to purchase $475.0 million in aggregate principal amount of the 2028 Notes that the Company accepted for purchase in accordance with the terms and conditions of the Tender Offer.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 4.1 Indenture, dated as of August 22, 2024, by and among Post Holdings, Inc., the Guarantors (as defined therein) and Computershare Trust Company, N.A., as trustee 99.1 Tender Offer Early Results Press Release dated August 22, 2024 99.2 Tender Offer Pricing Press Release dated August 22, 2024 104 Cover Page Interactive Data File (the cover page iXBRL tags are embedded within the Inline XBRL document) 3

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: August 27, 2024 Post Holdings, Inc. (Registrant) By: /s/ Diedre J. Gray Name: Diedre J. Gray Title: EVP, General Counsel & Chief Administrative Officer, Secretary 4

View Full Filing

View this 8-K filing on SEC EDGAR