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Kraft Heinz to repay term loan facility via new note offering
By Sarah Lizee
Olympia, Wash., Aug. 7 – Kraft Heinz Foods Co. announced that it plans to use the proceeds of a new offering of floating-rate senior notes to repay its term loan facility and to refinance a portion of its commercial paper borrowings, according to a 424B5 filing with the Securities and Exchange Commission.
The term loan facility bears interest at a variable annual rate and is scheduled to mature on July 6, 2022.
Proceeds from the notes will also be used the notes for general corporate purposes.
The company announced an offering of floating-rate notes in three tranches on Monday morning.
Chicago-based Kraft Heinz is a food company formed by the merger of Kraft Foods Group and Heinz in 2015.
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