JAB gives results, pricing of tender offer for 1% notes due 2031

By Mary-Katherine Stinson

Lexington, Ky., May 24 – JAB Holdings BV detailed the results and pricing of its cash tender offer for up to a maximum acceptance amount of €200 million of its €500 million 1% notes due July 14, 2031 (ISIN: DE000A3KPTG6), according to a notice.

As of the expiration of noon ET on May 23, €194.3 million of the notes were tendered and accepted for purchase at 78.923 to yield 4.098%.

Pricing was determined based on the interpolated mid-swap rate and purchase spread of 100 basis points.

The company will also pay accrued interest.

Settlement is expected to occur on May 25.

The dealer managers are ING Bank NV (+44 20 7767 6784; liability.management@ing.com) and SMBC Bank EU AG (+49 69 2222 9 8481; liability.management@smbcnikko-cm.com).

Kroll Issuer Services Ltd. (+44 20 7704 0880; jab@is.kroll.com; https://deals.is.kroll.com/jab) is the tender agent.

After settlement, €305.7 million of the notes will remain outstanding.

JAB Holdings is a subsidiary of Luxembourg-based investment conglomerate JAB Holding. JAB owns brands including Keurig, Dr Pepper, Krispy Kreme and Panera Bread.

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