Newell Brands has announced the completion of the divestiture of Pure Fishing to Sycamore Partners and of Jostens to Platinum Equity. The total expected net proceeds of $2.5 billion after taxes will be used to pay down debt and buy back shares. The remaining assets include the Coleman Group and Marmot Mountain. Newell announced earlier this month that it would accept the redemption of all its outstanding notes, for a total of $1.625 billion, after an enthusiastic response to a tender offer for about $1.5 billion of debt. The group offered to pay a 5 percent premium on the principal of the notes. Some of them carry an annual interest of 3.15 percent and the others 5.50 percent.
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