Post Holdings, Inc. 8-K

What Happened

• Post Holdings, Inc. announced on March 13, 2026 that it issued $600.0 million of 6.250% senior notes due October 15, 2034 (the “New Notes”), at a price of 100.75% of principal, plus accrued interest from October 15, 2025. The New Notes were sold under Rule 144A and Regulation S and form a single series with an existing $600.0 million series of 6.250% senior notes due 2034 (totaling $1.2 billion outstanding for the series). Interest is payable semi‑annually each April 15 and October 15.

Key Details

• Principal amount issued: $600.0 million (New Notes); combined with existing notes equals $1.2 billion in the series.
• Coupon and maturity: 6.250% interest, maturity October 15, 2034; interest dates April 15 and October 15.
• Issuance terms and price: issued at 100.75% of principal, plus accrued interest from October 15, 2025; sold to qualified institutional buyers and non‑U.S. persons.
• Security, ranking and guarantees: senior unsecured obligations of Post Holdings, fully and unconditionally guaranteed by substantially all domestic subsidiaries (with customary exclusions); equal to other senior unsecured debt, junior to secured debt and structurally junior to debt of non‑guarantor subsidiaries.
• Redemption and protections: limited make‑whole and scheduled call prices (including up to 40% call before Oct 15, 2027 at 106.25% with equity‑proceeds condition), set call prices for 2029–2032, and a 101% change‑of‑control purchase right for holders.
• Covenants and events of default: customary covenants (limits on liens, additional debt, dividends, repurchases, investments, mergers, affiliate transactions, asset sales) and standard events of default; some covenants may be suspended if ratings meet specified thresholds (S&P ≥ BBB‑ or Moody’s ≥ Baa3).

Why It Matters

• This filing documents that Post raised $600 million of long‑term debt, increasing the company’s senior unsecured obligations and extending debt maturity to 2034 for the combined series. For investors, the new notes affect Post’s capital structure and interest obligations (6.25% coupon), while the guarantees and covenant package define protections for noteholders and impose limits on corporate actions. The notes are unsecured and therefore would be behind any secured borrowings in a claim hierarchy and are structurally junior to creditors of non‑guarantor subsidiaries.