Fitch assigns BBB- to Kraft Heinz notes

Fitch Ratings said it assigned BBB- ratings to Kraft Heinz Co.’s $1.5 billion senior unsecured floating-notes.

Three tranches were issued: a $350 million two-year floating rate note tranche maturing in August 2019, a $650 million 3.5-year floating-rate note tranche maturing in February 2021 and a $500 million five-year floating-rate note tranche maturing in August 2022.

Proceeds will be used to repay all amounts outstanding under Kraft Heinz's $600 million term loan facility, which matures in July 2022, and refinance a portion of its commercial paper (CP) outstanding.

The outlook is stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.