By Aleesia Forni
Virginia Beach, Oct. 17 - General Mills, Inc. priced a $250 million add-on to its floating-rate notes (Baa1/BBB+/BBB+) due 2016 with a coupon of Libor plus 30 basis points at 99.999, according to a 424B5 filing with the Securities and Exchange Commission.
J.P. Morgan Securities LLC was the bookrunner.
The company will use the proceeds to repay a portion of its outstanding commercial paper.
The original $250 million issue sold at par to yield Libor plus 30 bps on Jan. 28, 2013.
The maker of consumer food products is based in Minneapolis.
| Issuer: | General Mills, Inc.
|
| Issue: | Add-on to senior notes
|
| Amount: | $250 million
|
| Bookrunner: | J.P. Morgan Securities LLC
|
| Amount: | $250 million
|
| Maturity: | Jan. 29, 2016
|
| Coupon: | Libor plus 30 bps
|
| Price: | 99.999
|
| Call option: | Non-callable
|
| Trade date: | Oct. 16
|
| Settlement date: | Oct. 29
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: BBB+
|
| Fitch: BBB+
|
| Total issue size: | $500 million
|
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