Mondelez International enters $2.5 billion revolving credit agreement

By Taylor Fox

New York, Feb. 24 – Mondelez International Inc. entered into a revolving credit agreement for a 364-day senior unsecured revolving credit facility in an amount of $2.5 billion, according to an 8-K filing with the Securities and Exchange Commission.

Under the agreement, Mondelez and certain subsidiaries may borrow up to the amount of the unused commitments under the 364-day revolving credit agreement.

Borrowings will bear interest at Libor plus an applicable margin ranging from 83.5 basis points to 128.5 bps, depending on Mondelez’s ratings.

There is a ratings-based facility fee ranging from 4 bps to 9 bps.

The revolver requires Mondelez maintain a minimum shareholders’ equity of not less than $24.6 billion.

The revolver will be used for general corporate purposes, including for working capital purposes, and to support Mondelez’s commercial paper program.

The revolving credit agreement will terminate on Feb. 23, 2022.

JPMorgan Chase Bank, NA, BofA Securities, Inc., Citibank, NA, Credit Suisse Loan Funding LLC, HSBC Securities (USA) Inc., Barclays Bank plc, BNP Paribas Securities Corp., Deutsche Bank Securities Inc., Goldman Sachs Bank USA, Mizuho Bank, Ltd., MUFG Bank, Ltd., SG Americas Securities, LLC, TD Securities (USA) LLC

and Wells Fargo Securities, LLC are joint lead arrangers and joint bookrunners.

J.P. Morgan Chase Bank, NA is the administrative agent.

Mondelez is a snack company based in Deerfield, Ill.

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