General Mills, Inc. Agrees to Sell €600,000,000 Aggregate Principal Amount of its 0.450% Notes Due 2026 and €200,000,000 aggregate principal amount of its 0.000% Notes due 2020
January 15, 2020 at 06:28 am
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On January 7, 2020, General Mills, Inc. (the “Company”) agreed to sell €600,000,000 aggregate principal amount of its 0.450% Notes due 2026 (the “Notes”) pursuant to the Underwriting Agreement, dated January 7, 2020 (the “Underwriting Agreement”), among the Company, Barclays Bank PLC, BNP Paribas, Credit Suisse Securities (Europe) Limited, Merrill Lynch International, Morgan Stanley & Co. International plc and Société Générale. The Notes will be issued pursuant to that certain Indenture, dated as of February 1, 1996 (as amended, the “Indenture”), between the Company and U.S. Bank National Association, as Trustee, and the Officers’ Certificate and Authentication Order, dated January 15, 2020 (the “Officers’ Certificate”), pursuant to Sections 201, 301 and 303 of the Indenture. The offer and sale of the Notes has been registered under the Securities Act of 1933, as amended, by Registration Statement on Form S-3 (No. 333-223919). The sale of the Notes is expected to close on January 15, 2020. On January 8, 2020, the Company agreed to sell €200,000,000 aggregate principal amount of its 0.000% Notes due 2020 in a private placement pursuant to an Underwriting Agreement, dated January 8, 2020, between the Company and Deutsche Bank AG, London Branch, which is also expected to close on January 15, 2020.
General Mills, Inc. is one of the world's leaders in food groups. The group proposes cereal of breakfast, prepared meals, frozen vegetables, pizzas frozen, pasta ready for use, yoghurt, desserts, sauces, etc. notably under brands Cheerios, Pillsbury, Green Giant, Old El Paso, Progresso, Wheaties, Häagen-Dazs, Nature Valley, Betty Crocker and Wanchai Ferry. In addition, General Mills, Inc. sells pet food. The activity is organized around two markets:
- consumer distribution;
- catering and bakery: sale of products to restaurants, to bakeries, operators of vending machines and dishes as well as to cafeterias of schools and companies.
The United States account for 77.4% of net sales.
General Mills, Inc. Agrees to Sell €600,000,000 Aggregate Principal Amount of its 0.450% Notes Due 2026 and €200,000,000 aggregate principal amount of its 0.000% Notes due 2020