Latham & Watkins Advises on BellRing Distribution, LLC’s US$840 Million Senior Notes Offering

BellRing Distribution, LLC (New BellRing), currently a wholly owned subsidiary of Post Holdings, Inc. (Post), has announced the pricing of its previously announced senior notes offering. New BellRing priced US$840 million in aggregate principal amount of 7% senior notes due 2030. The Notes were offered in connection with Post’s anticipated spin-off of 80.1% of its interest in New BellRing to Post shareholders. The Notes offering is expected to close on March 10, 2022, and is conditioned upon the substantially concurrent completion of the spin-off and the related merger of a subsidiary of New BellRing into BellRing Brands, Inc.

Latham & Watkins LLP represents the initial purchasers in the offering with a capital markets team led by New York partners Ian Schuman and Benjamin Stern, with New York/Houston associate John Slater and New York associates Claire Solimine and James Dorian. Advice was also provided on tax matters by New York partner Jiyeon Lee-Lim, with New York associate Aaron Bernstein.