Kraft Heinz offers to buy up to $2.8 billion from 10 series of notes

Chicago, June 7 – Kraft Heinz Co. announced that 100% owned subsidiary Kraft Heinz Foods Co. has started a cash tender offer for up to $2.8 billion from 10 series of notes, according to a press release on Monday.

The company is offering to purchase from the following series of notes, with purchase prices based on $1,000-par notes, listed in acceptance priority order:

• $1,993,000,000 outstanding 5% senior notes due June 2042 (Cusips: 50076QAE6, 50076QAC0) for a purchase price of $1,187.50;

• $992 million outstanding of 5% senior notes due July 2035 (Cusip: 50077LAL0) for $1,201.25;

• $1,095,800,000 outstanding of 4 5/8% senior notes due January 2029 (Cusip: 50077LAT3) for $1,147.50;

• $500 million outstanding of 4 5/8% senior notes due October 2039 (Cusips: 50077LAX4, 50077LAW6) for $1,137.50;

• $997.5 million outstanding of 3¾% senior notes due April 2030 (Cusips: 50077LAV8, 50077LAU0) for $1,087.50;

• $772,783,000 outstanding of 6 ½% senior notes due February 2040 (Cusips: 50076QAN6, 50076QAL0) for $1,362.50;

• $235,325,000 outstanding of 6 3/8% senior debentures due July 2028 (Cusip: 423074AF0) for $1,250;

• $436,577,000 outstanding of 6 ¾% senior debentures due March 2032 (Cusip: 42307TAG3) for $1,351.25;

• $868,230,000 outstanding of 6 7/8% senior notes due January 2039 (Cusips: 50076QAR7, 50076QAP1, 50076QAQ9) for $1,392.50; and

• $927 million of 7 1/8% senior notes due August 2039 (Cusip: 42307TAH1) for $1,430.

The purchase price will also include accrued and unpaid interest to the settlement date.

The offers will expire at 5 p.m. ET on June 11, also the withdrawal deadline.

No series of notes accepted for purchase will be prorated. For this reason, if a series with a higher acceptance priority level causes the maximum acceptance amount to be exceeded, no notes may be accepted from that series but a series with a lower acceptance priority level may be accepted instead.

Settlement will be June 14.

Settlement for notes delivered via guaranteed delivery procedures will be June 16.

Kraft Heinz has engaged BofA Securities (980 388-3646 or debt_advisory@bofa.com), J.P. Morgan (866 834-4666 or 212 834-4087) and Wells Fargo Securities (866 309-6316 or 704 410-4759) to act as lead dealer managers.

BNP Paribas, Credit Agricole CIB, Credit Suisse, Deutsche Bank Securities, MUFG and SMBC Nikko are acting as co-dealer managers.

Global Bondholder Services Corp. is the tender agent and information agent for the offers (866 470-3800, 212 430-3774, https://www.gbsc-usa.com/kraftheinzcompany).

The food and beverage company has headquarters in Pittsburgh and Chicago.

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