Mondelez signs for $2 billion of term loans with drawdown flexibility

Chicago, March 31 – Mondelez International, Inc. signed for up to $2 billion of term loans on Thursday, according to an 8-K filing with the Securities and Exchange Commission.

Mizuho Bank, Ltd. is the administrative agent.

Mondelez may borrow on the term loan in up to four draws for up to eight months after the March 31 effective date. Borrowings will be due three years after the applicable funding date(s).

The amounts are not revolving; i.e., if the amounts are borrowed and repaid, they may not be reborrowed.

There is a ticking fee, based on ratings, of between 4.5 basis points and 10 bps.

Also based on ratings, interest pricing will be at one of five tiers starting at SOFR plus 57.5 bps and going up to 87.5 bps.

The credit agreement requires the company to maintain a minimum shareholders’ equity of not less than $25 billion.

Mizuho is the joint lead arranger and sole bookrunner.

Banco Bilbao Vizcaya Argentaria, SA New York Branch, JPMorgan Chase Bank, NA and Wells Fargo Securities, LLC are the joint lead arrangers.

Proceeds will be used for general corporate purposes.

Mondelez, formerly Kraft Foods Inc., is a snack company based in Deerfield, Ill.

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