Loan & DebtMay 21, 2026, 04:48 PM
Kraft Heinz Issues €1B Notes; Repurchases $1.38B of 2046 Notes
AI Summary
Kraft Heinz Foods Company, a subsidiary of The Kraft Heinz Company, issued €1 billion in new senior notes across two tranches due 2031 and 2034. The proceeds are intended to fund a concurrent cash tender offer for its outstanding 4.375% Senior Notes due 2046 and 4.875% Senior Notes due 2049, with a maximum purchase price of $1.1 billion. Due to high participation, the company accepted $1,379,414,000 of the 2046 Notes with a proration factor of approximately 78.77%, but no 2049 Notes were accepted. This debt management action aims to optimize its debt structure.
Key Highlights
- Issued €500,000,000 of 3.500% Senior Notes due 2031.
- Issued €500,000,000 of 3.950% Senior Notes due 2034.
- New notes proceeds to fund a concurrent tender offer for existing senior notes.
- Tender offer had a maximum combined aggregate purchase price of $1,100,000,000.
- Accepted $1,379,414,000 of 4.375% Senior Notes due 2046.
- Proration factor of approximately 78.77% applied to 2046 Notes.
- No 4.875% Senior Notes due 2049 were accepted in the tender offer.
- Total Consideration for 2046 Notes was $797.44 per $1,000 principal amount.
Price Impact
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