AI English summary of an SEC filing — figures as filed
The J.M. Smucker Company SJMThe company said that as of 5 p.m. New York City time on December 16, 2024, the early tender deadline, 2.750% Senior Notes due 2041 totaling $122,481,000, 3.550% Senior Notes due 2050 totaling $138,766,000, and 2.125% Senior Notes due 2032 totaling $194,109,000 had been validly tendered.
Key points
AI summaryThe company said that as of 5 p.m. New York City time on December 16, 2024, the early tender deadline, 2.750% Senior Notes due 2041 totaling $122,481,000, 3.550% Senior Notes due 2050 totaling $138,766,000, and 2.125% Senior Notes due 2032 totaling $194,109,000 had been validly tendered.
The company said it plans to buy the full amount of its 2041 and 2050 notes and only part of its 2032 notes, at a proration factor of about 69.9%, so that the total purchase price excluding accrued interest does not exceed the $300 million Offer Cap.
The company said it will not buy its 4.375% Senior Notes due 2045 or its 5.900% Senior Notes due 2028. It added that because tenders received by the early tender deadline exceeded the Offer Cap, there will be no Final Settlement Date and it will not buy notes tendered after that deadline.
The company said it plans to complete the note purchases around December 19, 2024 and to pay the purchase price and accrued unpaid interest with cash on hand and from its commercial paper program.
Summary
AI-writtenAnalysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.
Early Tender Deadline Results
The company said that as of 5 p.m. New York City time on December 16, 2024, the early tender deadline, 2.750% Senior Notes due 2041 totaling $122,481,000, 3.550% Senior Notes due 2050 totaling $138,766,000, and 2.125% Senior Notes due 2032 totaling $194,109,000 had been validly tendered.
Source · Based on the filing body and exhibits
Offer Cap of $300 million and Proration
The company said it plans to buy the full amount of its 2041 and 2050 notes and only part of its 2032 notes, at a proration factor of about 69.9%, so that the total purchase price excluding accrued interest does not exceed the $300 million Offer Cap.
Source · Based on the filing body and exhibits
Notes Not Purchased and No Later Tenders
The company said it will not buy its 4.375% Senior Notes due 2045 or its 5.900% Senior Notes due 2028. It added that because tenders received by the early tender deadline exceeded the Offer Cap, there will be no Final Settlement Date and it will not buy notes tendered after that deadline.
Source · Based on the filing body and exhibits
Funding Sources and Settlement Date
The company said it plans to complete the note purchases around December 19, 2024 and to pay the purchase price and accrued unpaid interest with cash on hand and from its commercial paper program.
Source · Based on the filing body and exhibits
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
Loading the filing text…