Kellogg Co. on Aug. 21 disclosed the final results of its tender offers for up to $1 billion of its outstanding senior notes with varying maturity dates.
The food company previously offered $30 per $1,000 principal amount of the notes tendered before the early tender deadline of Aug. 6. Following that date, Kellogg said an additional $72,000 in aggregate principal amount of the notes were tendered and were accepted for purchase.
All in all, the cereal manufacturer will now accept a principal amount of $191 million of the $500 million 4.15% senior notes due 2019. It will also accept $248.1 million of the $296.3 million that have been tendered out of the $850 million 4% senior notes due 2020; all of the $201.9 million of the $400 million 3.25% senior notes due 2021; only $49.9 million of the $301 million that have been tendered from the $600 million 2.65% senior notes due 2023; and none of the $64.8 million that have been tendered from the $600 million 3.4% senior notes due 2027.
Kellogg said the settlement date for the notes that were tendered and accepted from Aug 6. to Aug. 20 will be on Aug. 22. It also announced a Sept. 8 redemption date for all the remaining notes that were not purchased in the offers.
