Kellogg Co. on Aug. 7 priced its previously announced tender offers to purchase for cash up to $1 billion of its outstanding senior notes with varying maturity dates.
The Battle Creek, Mich.-based cereal-maker is offering to repurchase any and all of its outstanding 4.150% senior notes due 2019 and up to $500 million combined aggregate principal amount of its 4.000% senior notes due 2020, 3.250% senior notes due 2021, 2.650% senior notes due 2023, and 3.400% senior notes due 2027.
Kellogg is offering a premium of $30 per $1,000 principal amount of the notes if they are tendered and accepted for purchase before 5 p.m. ET on Aug. 6. 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.