Kellogg Co. on Aug. 7 announced the early results of its previously announced tender offers to to purchase for cash up to $1 billion of its outstanding senior notes with varying maturity dates.
As of 5 p.m. ET on Aug. 6, the Battle Creek, Mich.-based cereal-maker said that $190.9 million of the $500 million 4.150% senior notes due 2019; $296.3 million of the $850 million 4.000% senior notes due 2020; $201.9 million of the $400 million 3.250% senior notes due 2021; $301 million of the $600 million 2.650% senior notes due 2023; and $64.8 million of the $600 million 3.400% senior notes due 2027 have been tendered and not validly withdrawn.
The offer is expected to expire at 11:59 p.m. ET on Aug. 20, unless extended or terminated.
BofA Merrill Lynch, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC are acting as lead dealer managers for the offers.