Post Holdings Refinances Debt, Authorizes Buyback: Implications for Investors

Post Holdings has completed a $1.3 billion private offering of 6.50% senior unsecured notes due 2036 and redeemed $1.235 billion of its 5.50% senior notes due 2029. The company also authorized a $500 million share repurchase program over two years. The refinancing and new buyback highlight a shift in Post's leverage, liquidity, and capital return strategy. The move could change the case for investing in Post Holdings, as investors weigh the risks and opportunities of the company's high leverage, rising interest costs, and ongoing buybacks.