By Rebecca Melvin
New York, Sept. 9 – Mondelez International Holdings Netherlands BV, a subsidiary of Mondelez International Inc., priced $1 billion of senior notes (A3) in three- and five-year tranches on Friday, according to market sources.
The $500 million 2.125% notes due 2022 priced at 99.974 to yield 2.134%, or a spread of U.S. Treasuries plus 67 basis points.
The $500 million 2.25% notes due 2024 priced at 99.868 to yield 2.278%, or a spread of Treasuries plus 87 bps.
Net proceeds from the notes will be used to partially fund upcoming maturities of existing MIHN debt instruments. MIHN currently has $2.25 billion of similar notes that are maturing in Oct. 28, 2019.
Barclays, Credit Suisse, BofA Securities and MUFG are bookrunners of the Rule 144A notes that mature Sept. 19.
Mondelez is a snack company based in Deerfield, Ill.
| Issuer: | Mondelez International Holdings Netherlands BV
|
| Guarantor: | Mondelez International Inc.
|
| Issue: | Senior notes
|
| Amount: | $1 billion
|
| Bookrunners: | Barclays, Credit Suisse, BofA Securities Inc. and MUFG
|
| Trade date: | Sept. 6
|
| Settlement date: | Sept. 19
|
| Rating: | Moody’s: A3
|
| Distribution: | Rule 144A
|
|
|
| 2022 notes
|
| Amount: | $500 million
|
| Maturity: | Sept. 19, 2022
|
| Coupon: | 2.125%
|
| Price: | 99.974
|
| Yield: | 2.134%
|
| Spread: | 67 bps over Treasuries
|
|
|
| 2024 notes
|
| Amount: | $500 million
|
| Maturity: | Sept. 19, 2024
|
| Coupon: | 2.25%
|
| Price: | 99.868
|
| Yield: | 2.278%
|
| Spread: | 87 bps over Treasuries
|
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