Scotts Announces Refinancing Plan

The Scotts Company has announced plans to launch a refinancing transation that will include an estimated $1.2 billion senior credit facility as well as $200 million in senior subordinated notes.

As part of this refinancing plan, the green industry supplier has commenced a cash tender offer for any and all of its 400 million outstanding 8.625 percent Senior Subordinated Notes due 2009. In conjunction with the tender offer, Scotts is soliciting holders to consent to certain proposed amendments to the indenture governing the notes.

The global company intends to finance this tender offer with proceeds from the proposed senior subordinated notes offering and proposed new senior credit facility. The new credit facility, to be arranged by JPMorgan, is expected to include a revolving credit facility of $550 million and a term loan B facility of $650 million

For more information, visit www.scotts.com or call 800/558-3754.