Kraft Heinz takes in $495 million tenders in offer for 5.375% notes

By Wendy Van Sickle

Columbus, Ohio, Sept. 10 – Kraft Heinz Foods Co. took in tenders of $494,998,000, or 55%, of its $900 million outstanding 5.375% senior notes due 2020 in its tender for any and all of the notes, according to a news release from parent company Kraft Heinz Co.

Additionally, $1.34 million of notes were tendered under guaranteed delivery procedures.

The tender offer began Sept. 3 and expired at 5 p.m. ET on Sept. 9.

Holders were to receive $1,012.92 per $1,000 principal amount of notes.

Pricing was set using a fixed spread of 30 basis points plus 1.935%, the yield based on the bid-side price of the 2% U.S. Treasury due Jan. 31, 2020 at 2 p.m. ET on Sept. 9.

Holders will also receive accrued interest up to but excluding the settlement date, which was expected to be Sept. 10.

BofA Securities (980 387-3907 or 888 292-0070), Citigroup (800 558-3745 or 212 723-6106), Goldman Sachs & Co. LLC (800 828-3182 or 212 357-0215) and JPMorgan (866 834-4666 or 212 834-8553) are the dealer managers.

Global Bondholders Services Corp. (866 794-2200 or 212 430-3774 is the tender agent and information agent.

Kraft Heinz is a Chicago-based food company.

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