The Kraft Heinz Co. on Sept. 11 launched an offer to purchase for cash up to $1 billion of its outstanding 3.500% senior notes due June 2022, 3.500% senior notes due July 2022, 4.000% senior notes due 2023 and 4.875% second lien senior secured notes due 2025.
The food company 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 Sept. 24. The offer is expected to expire at 11:59 p.m. ET on Oct. 8, unless extended or terminated.
Kraft Heinz also said it intends to issue a notice of conditional partial redemption providing for the redemption of $500 million aggregate principal amount of its remaining outstanding 2.800% senior notes due 2020 valued at 100%, on top of applicable redemption premium and accrued and unpaid interest, if any, to, but not including, the Oct. 11 expected redemption date.
