The J. M. Smucker Company Announces Early Tender Results of Previously Announced Cash Tender Offers

Core Viewpoint - The J. M. Smucker Company has announced early results of its cash tender offers for certain senior notes, with a total purchase cap of $300 million, and details regarding the tendered notes are provided [1][2]. Group 1: Tender Offer Details - The Offers are made for validly tendered notes, with withdrawal rights expiring on December 16, 2024, at 5:00 p.m. New York City time [2]. - The Company is prioritizing acceptance of notes based on a "waterfall" methodology, with specific acceptance priority levels for each note series [3]. - The total principal amount tendered for the 2.750$122.481 million, for the 3.550% Senior Notes due 2050 is $138.766 million, and for the 2.125$194.109 million [3]. Group 2: Financial Considerations - The Total Consideration for accepted notes will include an early tender premium of $30 per$1,000 principal amount, along with accrued interest up to the Early Settlement Date of December 19, 2024 [5]. - The Company will announce the Total Consideration payable in connection with the Offers on December 17, 2024 [6]. Group 3: Company Rights and Management - The Company reserves the right to terminate any or all Offers, waive conditions, extend deadlines, or amend terms at its discretion [7]. - Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are acting as Dealer Managers for the Offers, providing assistance and information regarding the tender process [9].