Prestige Brands tenders for any and all of $126 million of 9¼% notes

By Jennifer Chiou

New York, March 10 - Prestige Brands Holdings Inc. announced that its wholly owned subsidiary, Prestige Brands, Inc., began a cash tender offer and consent solicitation for any and all of its $126 million of 9¼% senior subordinated notes due 2012.

The offer is set to end at 11:59 p.m. ET on April 6.

Those who tender prior to 5 p.m. ET on March 23, the consent deadline, will receive the total consideration equal to $1,005 per $1,000 principal amount of notes, including a consent payment of $30.

Holders will also receive accrued interest.

Prestige Brands said it will execute a supplemental indenture to effect proposed amendments once it receives tenders from holders of a majority of the notes.

The offer is also subject to sufficient financing.

Bank of America Merrill Lynch is the dealer manager and solicitation agent (888 292-0070 or call collect 980 388-9217). D.F. King & Co., Inc. is the information agent (800 769-7666 or call collect 212 269-5550).

Prestige Brands is an Irvington, N.Y.-based marketer and distributor of brand name over-the-counter health care, personal care and household cleaning products.

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