The Kraft Heinz Company ("Kraft Heinz") (Nasdaq: KHC) announced today that the previously announced offer to purchase for cash (the "Offer") commenced by its 100% owned subsidiary Kraft Heinz Foods Company (the "Issuer") for any and all of its outstanding 5.375% senior notes due 2020 (the "Notes") expired at 5:00 p.m., New York City time, on September 9, 2019 (the "Expiration Time"). As of the Expiration Time, $494,998,000 or 55.00% of the $900 million outstanding aggregate principal amount of the Notes had been validly tendered and not validly withdrawn. In addition, as of the Expiration Time, $1,340,000 aggregate principal amount of the Notes remained subject to guaranteed delivery procedures described in the Offer to Purchase dated September 3, 2019 (the "Offer to Purchase"). Payment for the Notes validly tendered and accepted for purchase will be made today (the "Settlement Date").
Holders that validly tendered their Notes at or prior to the expiration of the Offer and did not validly withdraw their Notes will receive $1,012.92 for each $1,000 principal amount of Notes tendered and accepted for payment (the "Notes Consideration"), plus accrued and unpaid interest from the August 10, 2019 interest payment date up to, but not including, the Settlement Date.
The Offer was made pursuant to the terms and subject to the conditions set forth in the Offer to Purchase and the related notice of guaranteed delivery.
BofA Merrill Lynch, Citigroup, Goldman Sachs & Co. LLC, and J.P. Morgan acted as Dealer Managers for the Offer. Global Bondholders Services Corporation served as the tender agent and information agent for the Offer.
This press release is for informational purposes only and is not an offer to purchase, a solicitation of an offer to purchase or a solicitation of consents with respect to any securities. If any holder of the Notes is in any doubt as to the contents of this press release, or the Offer to Purchase, or the action it should take, it is recommended to seek its own financial and legal advice, including in respect of any tax consequences, immediately from its stockbroker, bank manager, solicitor, accountant or other independent financial, tax or legal adviser.