By Cristal Cody
Eureka Springs, Ark., Oct. 20 – Mondelez International, Inc. sold $3.75 billion of notes in three tranches on Wednesday, according to a company news release and a market source.
The company sold $500 million of three-year floating-rate notes at Libor plus 61 basis points.
The company priced $1.75 billion of 1.625% three-year notes with a spread of 75 bps over Treasuries.
Mondelez priced $1.5 billion of 2% five-year notes at Treasuries plus 85 bps.
The notes are guaranteed by the company.
BofA Merrill Lynch, Credit Suisse Securities (USA) LLC, HSBC Securities (USA) Inc. and Mizuho Securities USA Inc. were active bookrunners. Passives were Goldman Sachs & Co., J.P. Morgan Securities LLC and MUFG.
Proceeds will be used for general corporate purposes, including to fund all or a portion of the company’s ongoing tender offer for certain outstanding debt and to fund near term debt maturities.
Mondelez is an East Hanover, N.J.-based manufacturer of biscuits, chocolate, gum, candy and other products.
| Issuer: | Mondelez International Holdings Netherlands BV
|
| Guarantor: | Mondelez International, Inc.
|
| Amount: | $3.75 billion
|
| Description: | Notes
|
| Bookrunners: | BofA Merrill Lynch, Credit Suisse Securities (USA) LLC, HSBC Securities (USA) Inc. and Mizuho Securities USA Inc. (active); Goldman Sachs & Co., J.P. Morgan Securities LLC and MUFG (passive)
|
| Trade date: | Oct. 19
|
| Settlement date: | Oct. 28
|
| Ratings: | Moody’s: Baa1
|
| S&P: BBB
|
| Fitch: BBB
|
| Distribution: | Rule 144A, Regulation S
|
|
|
| Three-year floaters
|
| Amount: | $500 million
|
| Maturity: | Oct. 28, 2019
|
| Coupon: | Libor plus 61 bps
|
|
|
| Three-year notes
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| Amount: | $1.75 billion
|
| Maturity: | Oct. 28, 2019
|
| Coupon: | 1.625%
|
| Spread: | Treasuries plus 75 bps
|
|
|
| Five-year notes
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| Amount: | $1.5 billion
|
| Maturity: | Oct. 28, 2021
|
| Coupon: | 2%
|
| Spread: | Treasuries plus 85 bps
|
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