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Mondelez accepts tenders for £247.12 million of 7.25% notes due 2018
By Wendy Van Sickle
Columbus, Ohio, Nov. 25 – Mondelez International, Inc. received tenders for £247,125,000 of 7.25% notes due July 2018 in a tender offer, according to a company news release.
The offer for any and all of the £350 million of the notes ended at 11 a.m. ET on Tuesday.
Mondelez accepted all of the tendered notes for payment.
The purchase price of £1,143.38 per £1,000 principal amount of notes was set at 9 a.m. ET Wednesday using the purchase yield of the 1.25% U.K. Treasury gilt due 2018 plus 85 basis points.
The company will also pay accrued interest of £26.59647 per £1,000 principal amount of notes.
Settlement is set for Nov. 30.
As previously reported, the company said the purpose of the offer was to optimize its debt maturity profile, to refinance debt maturities and to take advantage of favorable market conditions.
Barclays Bank plc (+44 0 20 3134 8515 or eu.lm@barclays.com), Goldman Sachs International (+44 0 20 7774 9862 or liabilitymanagement.eu@gs.com) and HSBC Bank plc are the dealer managers. Citibank NA, London Branch (+44 20 7508 3867 or exchange.gats@citi.com) is the tender agent.
Mondelez, formerly Kraft Foods Inc., is a snack company based in Deerfield, Ill.
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