Kellanova gets replacement $1 billion 364-day revolving credit facility

By Wendy Van Sickle

Columbus, Ohio, Dec. 20 – Kellanova entered on Tuesday into an unsecured 364-day credit agreement for a $1 billion revolver, according to an 8-K filed with the Securities and Exchange Commission.

JPMorgan Chase Bank, NA, Barclays Bank plc, BofA Securities, Inc., Citibank, NA, Cooperatieve Rabobank UA, New York Branch and Morgan Stanley MUFG Loan Partners, LLC are joint lead arrangers and joint bookrunners with JPMorgan Chase Bank as administrative agent and Bank of America, NA, Barclays, Citibank, Rabobank and Morgan Stanley as co-syndication agents.

The revolver bears interest at SOFR plus a margin ranging from 81.5 bps to 135 bps and has a facility fee ranging from 6 bps to 15 bps, depending on ratings.

No borrowings were outstanding at closing. Proceeds may be used for general corporate purposes.

The company terminated the 364-day credit agreement from Dec. 20, 2022.

The Chicago, Ill.-based company is a cereal and snack manufacturer previously known as Kellogg Co. before the company split in two in October.

© 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.