Campbell Soup Company Announces Debt Tender Offers

About this update from The Campbell's Company

[{"type":"text","content":" CAMDEN, N.J.--(BUSINESS WIRE)--\nCampbell Soup Company (NYSE:CPB) (the “Company”) announced today it has commenced offers to purchase for cash up to $1.0 billion combined aggregate principal amount (the “Maximum Tender Amount”) of its 3.30% Senior Notes due 2021 (up to a sublimit of $300,000,000 aggregate principal amount) (the “2021 Notes”), 3.80% Senior Notes due 2042 (the “2042 Notes”), 3.65% Senior Notes due 2023 (up to a sublimit of $400,000,000 aggregate principal amount) (the “2023 Notes”), 3.95% Senior Notes due 2025 (up to a sublimit of $300,000,000 aggregate principal amount) (the “2025 3.95% Notes”), 3.30% Senior Notes due 2025 (the “2025 3.30% Notes”) and 4.15% Senior Notes due 2028 (up to a sublimit of $50,000,000 aggregate principal amount) (the “2028 Notes”, and together with the 2021 Notes, the 2042 Notes, the 2023 Notes, the 2025 3.95% Notes and the 2025 3.30% Notes, the “Securities”). The Company refers to its offers to purchase the Securities as the “Offers.”\n\n\nSubject to the Maximum Tender Amount, the amounts of each series of Securities that are purchased will be determined in accordance with the acceptance priority levels specified in the table below and on the cover page of the Offer to Purchase dated January 8, 2020 (the “Offer to Purchase”) in the column entitled “Acceptance Priority Level” (the “Acceptance Priority Level”), with 1 being the highest Acceptance Priority Level and 6 being the lowest Acceptance Priority Level. No more than the amount set forth in the table below under the column “Series Tender Cap” for each series of Securities will be purchased in the Offers (such aggregate principal amounts, the “Series Tender Caps”).\n\n\nThe following table sets certain terms of the Offers:\n\n\n\n\nTitle of\nSecurity\n\n\n \n\nCUSIP\nNumber\n\n\n \n\nPrincipal\nAmount\nOutstanding\n\n\n \n\nSeries\nTender Cap\n\n\n \n\nAcceptance\nPriority Level\n\n\n \n\nReference U.S.\nTreasury Security\n\n\n \n\nBloomberg\nReference\nPage(1)\n\n\n \n\nFixed\nSpread\n(basis\npoints) (2)\n\n\n \n\nEarly\nTender\nPremium\n\n\n\n \n\n\n\n\n\n3.30% Senior\nNotes due 2021\n\n\n\n \n\n\n\n134429 BD0\n\n\n\n \n\n\n\n$650,000,000\n\n\n\n \n\n\n\n$300,000,000\n\n\n\n \n\n\n\n1\n\n\n\n \n\n\n\n2.375% U.S.T.\ndue 03/15/21\n\n\n\n \n\n\n\nFIT4\n\n\n\n \n\n\n\n25\n\n\n\n \n\n\n\n$30.00\n\n\n\n \n\n\n\n\n\n3.80% Senior\nNotes ...

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