Moody's assigns Mondelez notes Baa1

Moody's Investors Service said it assigned a Baa1 rating to $750 million of five-year senior unsecured notes to be issued by Mondelez International, Inc. as part of a $1.5 billion senior unsecured notes offering, including a $750 million add-on to existing notes.

All other ratings for the company, including the Baa1 senior unsecured, remain unchanged, Moody’s said.

Proceeds will be used for general corporate purposes, including to repay $1 billion outstanding under the $2.5 billion 365-day revolving credit facility established on March 6, and to repay a portion of about $3.7 billion of commercial paper outstanding as of March 31. The $750 million ten-year unsecured notes will be an add-on to the existing 2.75% notes due 2030 that were issued on April 13, and rated Baa1, the agency said.

The outlook is stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.