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Current Position:Home » News » General News » Topic

Kraft begins debt exchange ahead of spin off

Zoom in font  Zoom out font Published: 2012-06-19  Origin: foodbusinessnews  Views: 42
Core Tip: Kraft Foods Inc. on June 18 initiated exchange offers on various debt instruments for new notes with up to $3.6 billion in aggregate principal amounts.
Under the offer, Kraft will exchange a certain amount of its 6.5% notes due in 2040, 6.875% notes due in 2039, 6.875% notes due in 2038, 7% notes due in 2037, 6.5% notes due in 20031, 5.375% notes due in 2020, 6.125% notes due in August 2018 and 6.125% notes due in February 2018 for new notes with the same maturity and interest rates, to be issued by Kraft Foods Group, the North American grocery company of Kraft Foods, Inc. Kraft Foods Group and Mondelez International will be spun off from Kraft Foods in a transaction anticipated for later this year.

The exchange offer will remain valid through July 16.

 
 
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