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Published on 2/25/2016 in the Prospect News Investment Grade Daily.

Kellogg selling senior notes due 2026, 2046 via four bookrunners

By Aleesia Forni

New York, Feb. 25 – Kellogg Co. is in the market with an offering of senior notes in two tranches, according to a 424B3 filing with the Securities and Exchange Commission.

The offering includes senior notes due 2026 and senior debentures due 2046.

There is a change-of-control put at 101%.

Morgan Stanley & Co. LLC, Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Wells Fargo Securities LLC are the bookrunners.

Proceeds will be used to fund a tender offer and to repay commercial paper borrowings.

The maker of cereal and convenience foods is based in Battle Creek, Mich.


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