Campbell Soup issues make-whole call for 2.5% notes due 2022

By William Gullotti

Buffalo, N.Y., Feb. 3 – Campbell Soup Co. issued a redemption notice to holders of its outstanding $450 million 2.5% senior notes due 2022, according to a form 8-K filed with the Securities and Exchange Commission.

The notes will be redeemed at the greater of par and the sum of the remaining scheduled payments of principal and interest, discounted to the redemption date at Treasuries plus 20 basis points. Both payment options will also include accrued and unpaid interest up to, but excluding, the redemption date.

Redemption is scheduled for March 4.

Campbell Soup is a convenience foods company based in Camden, N.J.

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