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Campbell Soup Company Announces Upsize and Early Tender Results of its Debt Tender Offers
CAMDEN, N.J.--(BUSINESS WIRE)-- Campbell Soup Company (NYSE:CPB) (the “Company”) announced today that it has amended the terms of the Offers (as defined
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 that it has amended the terms of the Offers (as defined below) to increase the combined aggregate principal amount of Securities subject to the Offers from $1.0 billion to $1.2 billion (the “Maximum Tender Amount”). Additionally, the Company has amended the Offers to increase the previously announced Series Tender Caps (as defined below) with respect to the 2021 Notes and the 2023 Notes (each as defined below) as set forth in the table below. The Company also announced today the early tender results of its previously announced offers to purchase for cash up to 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”). 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 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 (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\nAs reported by Global Bondholder Services Corporation, the Information Agent and Tender Agent for the Offers, the principal amount of each series of Securities that were validly tendered and not va...