Kraft Heinz gives pricing on its tender offer for four series of notes

Chicago, Sept. 25 – Kraft Heinz Co. subsidiary Kraft Heinz Foods Co. announced pricing terms for its offer to purchase for cash up to $2.5 billion of four series of notes, according to a press release.

Notes covered by the capped tender offer include the following, listed in order of acceptance priority level and with the principal amount tendered as of the early tender deadline and the completed pricing of the total tender offer consideration determined as of 10 a.m. on Sept. 25:

• $880,616,000 of $2 billion 3.5% senior notes due June 2022 for $1,026.61 per $1,000 principal amount of notes;

• $554,139,000 of $1 billion 3.5% senior notes due July 2022 for $1,026.08 per $1,000 principal amount of notes;

• $761,869,000 of $1.6 billion 4% senior notes due 2023 for $1,045.36 per $1,000 principal amount of notes; and

• $706,700,000 of $1.2 billion 4.875% second-lien senior secured notes due 2025 for $1,032.17 per $1,000 principal amount of notes.

In the offer for the 4.875% notes due 2025, Kraft Heinz announced that $223,734,000 would be accepted, or a prorated factor of 31.7% of the notes tendered.

Holders who tendered their notes by the early tender deadline of 5 p.m. ET on Sept. 24 are eligible to receive the early tender premium, which is $30 per $1,000 of notes for each series.

The tender offer will expire at 11:59 p.m. ET on Oct. 8, however the offer is fully subscribed as of the early tender deadline.

Early settlement is expected for Sept. 26. Final settlement is expected for Oct. 9. Notes not accepted for purchase will be promptly returned or credited to the holder’s account.

Global Bondholders Services Corp. is the tender agent and information agent (866 794-2200 toll free or 212 430-3774 for banks and brokers).

The dealer managers are BofA Merrill Lynch (980 387-3907 toll free or 888 292-0070 collect), Citigroup (800 558-3745 toll free or 212 723-6106 collect), Goldman Sachs & Co. LLC (800 828-3182 toll free or 212 357-0215 collect) and J.P. Morgan at (866 834-4666 toll free or 212 834-8553 collect).

Kraft Heinz is a Chicago-based food company.

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