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Published on 1/16/2024 in the Prospect News Investment Grade Daily.

General Mills outlines offering of single tranche of fixed-rate notes

Chicago, Jan. 16 – General Mills Inc. is offering a single tranche of fixed-rate notes, according to a 424B5 filing with the Securities and Exchange Commission.

The notes will be callable early with a make-whole premium and then will be callable at par for a number of months before the maturity date.

BofA Securities, Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are the bookrunners.

U.S. Bank Trust Co., NA will be the trustee.

Faegre Drinker Biddle & Reath LLP is counsel to the issuer. Davis Polk & Wardwell LLP is counsel to the underwriters.

Proceeds will be used to repay a portion of the issuer’s $500 million outstanding 3.65% notes due Feb. 15.

The maker of consumer food products is based in Minneapolis.


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