By Cristal Cody
Eureka Springs, Ark., May 11 – Kraft Heinz Co. sold $5 billion of senior notes (Baa3/BBB-) in two parts on Tuesday, according to a market source.
The company sold $2 billion of 3% notes due June 1, 2026 at a spread of Treasuries plus 130 basis points, on the tight side of guidance of 135 bps, plus or minus 5 bps.
Kraft Heinz priced $3 billion of 4.375% notes due June 1, 2046 at 180 bps over Treasuries. The bonds were talked at Treasuries plus 185 bps, plus or minus 5 bps.
Barclays, Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Wells Fargo Securities LLC were the bookrunners.
The food company is based in Chicago.
| Issuer: | Kraft Heinz Food Co.
|
| Amount: | $5 billion
|
| Securities: | Senior notes
|
| Bookrunners: | Barclays, Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Wells Fargo Securities LLC
|
| Pricing date: | May 10
|
| Ratings: | Moody’s: Baa3
|
| S&P: BBB-
|
|
|
| 10-year notes
|
| Amount: | $2 billion
|
| Maturity: | June 1, 2026
|
| Coupon: | 3%
|
| Spread: | Treasuries plus 130 bps
|
| Price guidance: | Treasuries plus 135 bps, plus or minus 5 bps
|
|
|
| 30-year notes
|
| Amount: | $3 billion
|
| Maturity: | June 1, 2046
|
| Coupon: | 4.375%
|
| Spread: | Treasuries plus 180 bps
|
| Price guidance: | Treasuries plus 185 bps, plus or minus 5 bps
|
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