Press release
Kraft Heinz Announces Early Tender Participation Results of, and Election of Early Settlement for, Its Cash Tender Offer for Up to $1.0 Billion
Aggregate Purchase Price of Certain of Its Outstanding Notes PITTSBURGH & CHICAGO--(BUSINESS WIRE)-- The Kraft Heinz Company (“Kraft Heinz”) (Nasdaq: KHC)
About this update from The Kraft Heinz Company
[{"type":"text","content":"\nAggregate Purchase Price of Certain of Its Outstanding Notes\n\n PITTSBURGH & CHICAGO--(BUSINESS WIRE)--\nThe Kraft Heinz Company (“Kraft Heinz”) (Nasdaq: KHC) today announced the early tender participation results, as of 5:00 p.m., New York City time, on March 5, 2021 (the “Early Tender Time”), of the previously announced cash tender offer by its 100% owned operating subsidiary Kraft Heinz Foods Company (the “Issuer”) to purchase for cash (the “Tender Offer”) any validly tendered (and not subsequently validly withdrawn) notes up to the maximum combined aggregate purchase price of $1.0 billion, including principal and premium but excluding accrued and unpaid interest (the “Maximum Tender Amount”), of its outstanding 3.500% Senior Notes due June 2022 (the “June 2022 Notes”), 4.000% Senior Notes due June 2023 (the “June 2023 Notes”), 3.950% Senior Notes due July 2025 (the “July 2025 Notes”), and 3.000% Senior Notes due June 2026 (the “June 2026 Notes,” and together with the June 2022 Notes, the June 2023 Notes, and the July 2025 Notes, the “Notes,” and each, a “Series” of Notes). Kraft Heinz also announced that, with respect to the Notes validly tendered and not validly withdrawn at or prior to the Early Tender Time, the Issuer has elected to have an early settlement date to make payment for such Notes on March 9, 2021.\n\nThe Tender Offer is being made on the terms and subject to the conditions set forth in the offer to purchase dated February 22, 2021 (the “Offer to Purchase”). Capitalized terms used in this release but not otherwise defined have the meanings given to them in the Offer to Purchase.\n\nConsummation of the Tender Offer and payment for the tendered Notes are subject to the satisfaction or waiver of certain conditions as set forth in the Offer to Purchase.\n\nThe deadline to withdraw Notes tendered in the Tender Offer was 5:00 p.m., New York City time, on March 5, 2021, which deadline has not been extended. Accordingly, previously tendered Notes may no longer be withdrawn, except where additional withdrawal rights are required by law. Subject to applicable law, the Issuer has reserved the absolute right, in its sole discretion, to at any time (i) waive any and all conditions to the Tender Offer, (ii) extend, terminate, or withdraw the Tender Offer, (iii) increase or waive the Maximum Tender Amount, with or without...