Hershey selling $600 million of three-, 10-year notes on Tuesday

By Aleesia Forni

Virginia Beach, Aug. 18 – Hershey Co. is planning to sell $600 million of senior notes on Tuesday, according to a market source and a 424B5 filing with the Securities and Exchange Commission.

The offering includes tranches of notes due 2018 and 2025.

The notes will have a make-whole call. There is also a change-of-control put at 101%.

Citigroup Global Markets Inc., BofA Merrill Lynch, PNC Capital Markets LLC and J.P. Morgan Securities LLC are the bookrunners.

Proceeds will be used to repay the company’s $250 million of 4.85% notes due 2015, to fund a tender offer and for general corporate purposes.

The maker of chocolate and confectionery products is based in Hershey, Pa.

© 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.