Kraft Heinz Foods Company commenced a cash tender offer for up to $1.1 billion of its 4.375% 2046 Notes and 4.875% 2049 Notes, subject to a financing condition for new senior unsecured notes.
Key takeaways
Tender Offer targets up to $1,100,000,000 aggregate purchase price of 2046 Notes ($2.786B outstanding) and 2049 Notes ($1.45B outstanding), excluding accrued interest.
Acceptance Priority: 2046 Notes (Level 1) before 2049 Notes (Level 2), with fixed spreads of +100 bps and +116 bps over 4.625% Treasury.
Early Tender Premium of $30 per $1,000 principal for tenders by May 20, 2026; Expiration Time June 5, 2026.
Financing Condition requires proceeds from new senior unsecured notes offering on satisfactory terms; Issuer may waive.
Dealer Managers: BofA Securities, Citigroup, Deutsche Bank Securities, Goldman Sachs.