NORTHFIELD (ILLINOIS) (dpa-AFX) - Kraft Foods Group Inc. (KRFT) said it commenced today at 5 p.m. Eastern time its offer to exchange certain of its outstanding unregistered notes for new registered notes in accordance with the terms of its registration rights agreements with existing holders of those notes.
As per the Exchange Offer, Kraft is offering to exchange up to $9.60 billion aggregate principal amount of its (i) new $1 billion 1.625% Notes due 2015, (ii) new $1 billion 2.250% Notes due 2017, (iii) new $1.03 billion 6.125% Notes due 2018, (iv) new $900 million 5.375% Notes due 2020, (v) new $2 billion 3.500% Notes due 2022, (vi) new $877.86 million 6.875% Notes due 2039, (vii) new $787.48 million 6.500% Notes due 2040, and (viii) new $2.00 billion 5.000% Notes due 2042 for a like principal amount of its (i) outstanding $1 billion 1.625% Notes due 2015, (ii) outstanding $1 billion 2.250% Notes due 2017, (iii) outstanding $1.03 billion 6.125% Notes due 2018, (iv) outstanding $900 million 5.375% Notes due 2020, (v) outstanding $2 billion 3.500% Notes due 2022, (vi) outstanding $877.86 million 6.875% Notes due 2039, (vii) outstanding $787.48 million 6.500% Notes due 2040, and (viii) outstanding $2 billion 5.000% Notes due 2042.
The Exchange Offer will expire at 5 p.m. Eastern time on January 8, 2013, unless extended. The settlement date for the Exchange Offer will occur promptly following the Expiration Date.
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