Press release
Kraft Heinz Commences Cash Tender Offer for Any and All of Certain of Its Outstanding Notes for Up to $2.8 Billion Aggregate Purchase Price
PITTSBURGH & CHICAGO--(BUSINESS WIRE)-- The Kraft Heinz Company (“Kraft Heinz”) (Nasdaq: KHC) announced today that its 100% owned subsidiary Kraft Heinz
About this update from The Kraft Heinz Company
[{"type":"text","content":" PITTSBURGH & CHICAGO--(BUSINESS WIRE)--\nThe Kraft Heinz Company (“Kraft Heinz”) (Nasdaq: KHC) announced today that its 100% owned subsidiary Kraft Heinz Foods Company (the “Issuer”) has commenced cash tender offers (each, an “Offer” and collectively, the “Offers”) to purchase up to a maximum combined aggregate purchase price of $2.8 billion, including principal and premium but excluding accrued and unpaid interest (the “Maximum Purchase Price”) of its outstanding notes listed in the table below (the “Notes,” and each, a “Series” of Notes). Subject to the Maximum Purchase Price, the amount of a Series of Notes that is purchased in the Offers will be based on the Acceptance Priority Levels set forth below. The Offers are being made on the terms and subject to the conditions set forth in the offer to purchase dated June 7, 2021 (the “Offer to Purchase”). Capitalized terms used in this release but not otherwise defined have the meaning given in the Offer to Purchase.\n\nConsummation of the Offers and payment for the Notes accepted for purchase are subject to the satisfaction or waiver of certain conditions described in the Offer to Purchase, including the Maximum Consideration Condition (as defined below), as well as other customary conditions. Subject to applicable law, the Issuer has reserved the absolute right to, in its sole discretion, at any time, (i) waive any and all conditions to the Offers, (ii) extend, terminate, or withdraw any Offer or the Offers, (iii) increase the Maximum Purchase Price or waive the Maximum Consideration Condition, with or without extending the Withdrawal Time (as defined below), or (iv) otherwise amend the Offers in any respect.\n\nThe Offers will expire at 5:00 p.m., New York City time, on June 11, 2021, unless extended or earlier terminated as described in the Offer to Purchase (such time and date, as they may be extended, the “Expiration Time”). Holders of the Notes (“Holders”) may withdraw their validly tendered Notes at any time at or prior to 5:00 p.m., New York City time, on June 11, 2021, unless extended (such time and date, as they may be extended, the “Withdrawal Time”). Holders are urged to read the Offer to Purchase carefully before making any decision with respect to the Offers.\n\nCertain information regarding the Notes and the Offers is set forth in the table below.\n\n\n\nTitle of S...