Mondelez to price about €300 million three-year bonds exchangeable for JDE Peet’s stock

By Rebecca Melvin

Concord, N.H., Sept. 15 – Mondelez International Holdings Netherlands BV, a subsidiary of Mondelez International Inc., plans to price guaranteed zero-coupon bonds due 2024, which will be exchangeable for shares of JDE Peet’s NV, according to a company news release on Wednesday.

The exchangeable bonds (expected rating: /BBB/) are expected to price later Wednesday and were being talked at an issue price of between 102 and 103.5, corresponding to a yield to maturity of minus 1.14% and minus 0.66% and an initial exchange premium of 30% and 35%.

The exchangeables are non-callable until Sept. 20, 2023 and then may be redeemed in cash or exchanged for ordinary shares of JDE Peet's.

The proceeds are expected to be used for general corporate purposes, including funding the acquisition of Chipita SA.

Application will be made to list the bonds for trading on the Euronext Dublin or Frankfurt Stock Exchange or another internationally recognized stock exchange or securities market.

Mondelez is a snack and beverage company based in Chicago and operating in about 160 countries.

JDE Peet’s is part of the Jacobs Douwe Egberts Dutch beverage company, which is partly owned by Mondelez.

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