Scotts Miracle-Gro announces registered exchange offer

Scotts Miracle-Gro NYSE: SMG has announced that it has a previously announced registered exchange offer for 4.375% senior notes due to 2032. The $400 million aggregate principal amount of 4.375% senior notes was issued in a private placement in August 2021.

As of that time, $400 million of the aggregate principal amount, or 100.0%, of the original notes had been validly tendered for exchange and were accepted for exchange in the exchange offer.

The exchange offer's settlement is expected to occur on or about January 26, 2022, according to the Ohio-based company.

The exchange offer was made to satisfy ScottsMiracle-Gro's obligations under a registration rights agreement entered into in August 2021 in connection with the issuance of original notes and does not represent a new financing transaction.

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ScottsMiracle-Gro shares traded 0.48% lower than $153.50 per share during Friday's pre-market session.