Tupperware Brands talks reopening of 4.75% notes due 2021 to add $200 million

By Andrea Heisinger

New York, March 6 - Tupperware Brands Corp. is reopening an issue of 4.75% senior notes due June 1, 2021 on Wednesday to add $200 million, according to a market source and a 424B5 filing with the Securities and Exchange Commission.

The notes (Baa3/BBB-/) have whispered guidance in the low-to-mid 200 basis points area, the source said.

Total issuance will be $600 million, including $400 million sold on May 25, 2011 at Treasuries plus 175 bps.

There is a change-of-control put on the bonds.

J.P. Morgan Securities LLC and Wells Fargo Securities LLC are the bookrunners.

The notes are guaranteed by Dart Industries Inc.

Proceeds will be used to repay a $75 million promissory note dated Feb. 1, 2013 issued to Wells Fargo Bank NA and for general corporate purposes, including repayment of borrowings under a credit facility and funding a 2013 common stock repurchase program.

The home and consumer products company is based in Orlando, Fla.

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