Kellogg to redeem all of two series of senior notes due 2021, 2022

By Cady Vishniac

Detroit, Nov. 18 – Kellogg Co. has issued a notice of redemption to holders of the outstanding $198 million of its 3.25% senior notes due 2021 and to holders of its outstanding $358 million 3.125% senior notes due 2022 that it intends to redeem all of the outstanding notes Dec. 17, according to an 8-K filing with the Securities and Exchange Commission.

The redemption price will be the greater of par and the sum of the present values of any remaining scheduled payments of principal and interest discounted to the redemption date on a semiannual basis at Treasuries plus 10 basis points for the 2021 notes and 25 bps for the 2022 notes, plus unpaid interest.

Kellogg is a food manufacturing company based in Battle Creek, Mich.

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