Mondelez to repay 364-day revolver borrowings via new note offerings

By Tali Rackner

Minneapolis, May 3 – Mondelez International, Inc. plans to repay amounts outstanding under its 364-day senior unsecured revolving credit facility under a revolving credit agreement dated April 2 using the net proceeds from four new note offerings, according to a 424B2 filing with the Securities and Exchange Commission.

As of April 30, there was $714 million of debt outstanding under the revolving credit agreement, which had an interest rate of 2.88%.

If not earlier terminated, the credit agreement will mature on the earlier of April 1, 2019 and the date of termination in whole of the commitments under the terms of the credit agreement, the filing said.

Remaining net proceeds will be used for general corporate purposes, including the repayment of commercial paper borrowings and other debt.

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

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