By Aleesia Forni
Virginia Beach, Jan. 9 - Mondelez International Inc. priced a $3 billion three-part issue of senior notes (Baa1/BBB-/BBB) on Thursday, according to a market source.
The company priced $400 million of five-year floating-rate notes at par to yield Libor plus 52 basis points.
There was also $850 million of 2.25% five-year notes priced at 99.541 to yield 2.347%, or Treasuries plus 60 bps.
A third tranche was $1.75 billion of 4% notes due 2024, which sold at 105 bps over Treasuries.
The notes priced at 99.892 to yield 4.013%.
Proceeds will be used for general corporate purposes.
Barclays, J.P. Morgan Securities LLC, RBS Securities Inc., Deutsche Bank Securities Inc. and HSBC Securities (USA) Inc. were the joint bookrunners.
Mondelez, formerly Kraft Foods Inc., is a snack company based in Deerfield, Ill.
| Issuer: | Mondelez International Inc.
|
| Issue: | Senior notes
|
| Amount: | $3 billion
|
| Joint bookrunners: | Barclays, J.P. Morgan Securities LLC, RBS Securities Inc., Deutsche Bank Securities Inc., HSBC Securities (USA) Inc.
|
| Trade date: | Jan. 9
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: BBB-
|
| Fitch: BBB
|
|
|
| Floating-rate notes due 2019
|
| Amount: | $400 million
|
| Maturity: | Feb. 1, 2019
|
| Coupon: | Libor plus 52 bps
|
| Price: | Par
|
| Yield: | Libor plus 52 bps
|
|
|
| Notes due 2019
|
| Amount: | $850 million
|
| Maturity: | Feb. 1, 2019
|
| Coupon: | 2.25%
|
| Price: | 99.541
|
| Yield: | 2.347%
|
| Spread: | Treasuries plus 60 bps
|
| Price talk: | Treasuries plus 65 bps area
|
|
|
| Notes due 2024
|
| Amount: | $1.75 billion
|
| Maturity: | Feb. 1, 2024
|
| Coupon: | 4%
|
| Price: | 99.892
|
| Yield: | 4.013%
|
| Spread: | Treasuries plus 105 bps
|
| Price talk: | Treasuries plus 105 bps to 110 bps
|
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