SJM proposes notes offering to refinance US$500m due in January
SJM Holdings proposed an international notes offering to refinance debt, including US$500 million in senior notes due 27 January 2026. The company said pricing would be set through bookbuilding and that the proceeds would extend its debt maturities; it also launched a cash offer for its outstanding 2026 notes. Fitch assigned the proposed notes a B- rating with a negative outlook.
The proposed refinancing could extend SJM’s debt maturities as it faces uncertainty over deleveraging and satellite casino restructuring.