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Kraft Heinz discloses early results of $2.5B cash tender offer

The Kraft Heinz Co. on Sept. 24 announced the early results of its upsized cash tender offer for up to $2.5 billion of certain of its outstanding notes.

As of the early tender time of 5 p.m. ET on Sept. 24, the U.S. food company said $880.6 million of the $2 billion outstanding principal amount of 3.500% senior notes due June 2022; $554.1 million of the $1 billion outstanding principal amount of 3.500% senior notes due July 2022; $761.9 million of the $1.60 billion outstanding principal amount of 4.000% senior notes due 2023; and $706.7 million of the $1.2 billion outstanding principal amount of 4.875% second lien senior secured notes due 2025 have been tendered.

BofA Merrill Lynch, Citigroup, Goldman Sachs & Co. LLC and J.P. Morgan acted as dealer managers in the transaction, while Global Bondholder Services Corp. was the tender agent and information agent.

The cash tender offer is set to expire at 11:59 p.m. ET on Oct. 8.