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Kellogg intends to price $600 million of 10-year senior notes
By Devika Patel
Knoxville, Tenn., Nov. 7 – Kellogg Co. intends to offer 10-year fixed-rate senior notes, according a 424B3 filing with the Securities and Exchange Commission.
Fitch Ratings said it has assigned a BBB rating to the senior notes, which the ratings agency said would have a size of $600 million and will be due November 2027. The outlook is stable.
The notes are callable at the greater of a make-whole call and a par call until three months prior to maturity and then are callable at par.
Barclays, BofA Merrill Lynch and Deutsche Bank Securities Inc. are the joint bookrunners.
Proceeds will be used for general corporate purposes.
The Battle Creek, Mich.-based company manufactures cereal and convenience foods.
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