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Campbell Soup Company Announces Pricing of its Debt Tender Offers
CAMDEN, N.J.--(BUSINESS WIRE)-- Campbell Soup Company (NYSE:CPB) (the “Company”) announced today the pricing of its previously announced offers to purchase
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 the pricing of its previously announced offers to purchase for cash up to $1.2 billion (the “Maximum Tender Amount”) of its 3.30% Senior Notes due 2021 (up to an increased sublimit of $328,644,000 aggregate principal amount) (the “2021 Notes”), 3.80% Senior Notes due 2042 (the “2042 Notes”), 3.65% Senior Notes due 2023 (up to an increased sublimit of $633,846,000 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”, and the foregoing sublimits, the “Series Tender Caps”). The Company refers to its offers to purchase the Securities as the “Offers.” The Company previously announced today that it amended the Offers to increase the previously announced Maximum Tender Amount from $1.0 billion to $1.2 billion, as well as the previously announced Series Tender Caps for the 2021 Notes and the 2023 Notes as set forth above.\n\n\nSubject to the Maximum Tender Amount, the amounts of each series of Securities to be purchased is 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 as amended by the Upsize and Early Tender Results Press Release issued by the Company today (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 of the Series Tender Caps for each series of Securities will be purchased in the Offers.\n\n\nThe following table sets certain terms of the Offers:\n\n\n\n\nTitle of Security\n\n\n\n\nCUSIP\nNumber\n\n\n\n\nPrincipal\nAmount\nOutstanding\n\n\n\n\nAcceptance\nPriority Level\n\n\n\n\nReference U.S.\nTreasury Security\n\n\n\n\nReference U.S.\nTreasury Yield\n\n\n\n\nFixed\nSpread\n(basis\npoints)(1)\n\n\n\n\nTotal\nConsideration\n(per $1,000)(1)\n...