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General Mills selling senior notes in multiple tranches on Monday
By Andrea Heisinger
New York, Jan. 28 - General Mills, Inc. is planning a sale of senior notes (Baa1/BBB+/BBB+) in multiple tranches on Monday, according to a 424B5 filing with the Securities and Exchange Commission.
The offering could include tranches of three-year floating-rate notes, three-year fixed rate notes, and 30-year bonds.
There is a change-of-control put at 101%.
Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC are the bookrunners.
Proceeds will be used to repay a portion of outstanding commercial paper.
General Mills was last in the U.S. bond market with a $1 billion offering of 10-year notes on Nov. 17, 2011.
The maker of consumer food products is based in Minneapolis.
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