The tender offer is contingent upon the successful completion of a concurrent issuance of new USD-denominated senior fixed-rate notes, a requirement referred to as the New Notes Condition. Participants who tender their holdings by the August 18, 2026, expiration date will receive a total consideration based on a fixed spread of 10 basis points over the reference yield of the 3.875% U.S. Treasury note due March 31, 2027.
In section Releases
Haleon Launches Tender Offer for $2 Billion in 2027 Senior Notes
Haleon plc has initiated a cash tender offer to repurchase all of its outstanding $1.999 billion 3.375% senior notes due in March 2027. The move, executed by its subsidiary Haleon US Capital LLC, serves as a proactive measure to optimize the company’s debt portfolio in alignment with established capital allocation priorities.
Investors who participate in the buyback and also apply for the new bond issuance may receive priority in the allocation of the new notes, though such allocation remains at the sole discretion of the company. The settlement of the tender offer is expected to occur around August 21, 2026. All repurchased notes will be cancelled, and the offer is not subject to a minimum principal amount threshold.
Comments (0)
No comments yet. Be the first!