NORTHFIELD, Ill., July 17, 2012 /PRNewswire/ -- Kraft Foods
Inc. (NASDAQ: KFT) ("Kraft Foods") announced today the successful
completion of its previously announced offers to exchange (the
"Exchange Offers") its existing 6.500% Notes due 2040, 6.875% Notes
due 2039, 6.875% Notes due 2038, 7.000% Notes due 2037, 6.500%
Notes due 2031, 5.375% Notes due 2020, 6.125% Notes due
August 2018 and 6.125% Notes due
February 2018 (collectively, the
"Existing Notes") for up to $3.6
billion aggregate principal amount of new 6.500% Notes due
2040, 6.875% Notes due 2039, 5.375% Notes due 2020 and 6.125% Notes
due 2018 (collectively, the "New Notes") to be issued by Kraft
Foods' wholly owned subsidiary, Kraft Foods Group, Inc. ("Kraft
Foods Group"), and, as applicable, cash. The Exchange Offers
expired at 11:59 p.m., New York City time, on July 16, 2012 (the "Expiration Date").
(Logo:
http://photos.prnewswire.com/prnh/20090420/KRAFTLOGO)
The settlement date for the Exchange Offers will occur promptly
following the Expiration Date and is expected to occur tomorrow,
July 18, 2012.
Kraft Foods has accepted for exchange (i) $787,506,000 principal amount of its 6.500% Notes
due 2040 (representing 100% of such Existing Notes validly tendered
and not validly withdrawn); (ii) $234,052,000 principal amount of its 6.875% Notes
due 2039 (representing 100% of such Existing Notes validly tendered
and not validly withdrawn); (iii) $290,492,000 principal amount of its 6.875% Notes
due 2038 (representing 100% of such Existing Notes validly tendered
and not validly withdrawn); (iv) $185,512,000 principal amount of its 7.000% Notes
due 2037 (representing 100% of such Existing Notes validly tendered
and not validly withdrawn); (v) $171,027,000 principal amount of its 6.500% Notes
due 2031 (representing 100% of such Existing Notes validly tendered
and not validly withdrawn); (vi) $900,040,000 principal amount of its 5.375% Notes
due 2020 (representing approximately 52% of such Existing Notes
validly tendered and not validly withdrawn); (vii) $438,543,000 principal amount of its 6.125% Notes
due August 2018 (representing 100% of
such Existing Notes validly tendered and not validly withdrawn);
and (viii) $596,125,000 principal
amount of its 6.125% Notes due February
2018 (representing approximately 74% of such Existing Notes
validly tendered and not validly withdrawn). Where
applicable, the amount of Existing Notes accepted for exchange will
be prorated based on the terms and conditions of the Exchange
Offers.
Pursuant to the Exchange Offers, Kraft Foods will deliver, in
addition to the cash, if any, payable under the terms of the
Exchange Offers, (i) $787,483,000
principal amount of new 6.500% Notes due 2040 issued by Kraft Foods
Group for the tendered 6.500% Notes due 2040 accepted for exchange;
(ii) $877,860,000 principal amount of
new 6.875% Notes due 2039 issued by Kraft Foods Group for the
tendered 6.875% Notes due 2039, 6.875% Notes due 2038, 7.000% Notes
due 2037 and 6.500% Notes due 2031 accepted for exchange; (iii)
$900,000,000 principal amount of new
5.375% Notes due 2020 issued by Kraft Foods Group for the tendered
5.375% Notes due 2020 accepted for exchange; and (iv) $1,034,657,000 principal amount of new 6.125%
Notes due 2018 issued by Kraft Foods Group for the tendered 6.125%
Notes due August 2018 and 6.125%
Notes due February 2018 accepted for
exchange.
The New Notes have not been registered with the Securities and
Exchange Commission under the Securities Act of 1933, as amended
(the "Securities Act") or any state or foreign securities
laws. The New Notes may not be offered or sold in
the United States or to any U.S.
persons except pursuant to an exemption from, or in a transaction
not subject to, the registration requirements of the Securities
Act.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements including
regarding the timing of the Exchange Offers. The word
"expect" and similar expressions are intended to identify the
forward-looking statements. These forward-looking statements
involve risks and uncertainties, many of which are beyond Kraft
Foods' control, and important factors could cause Kraft Foods'
actual results to differ materially from those in the
forward-looking statements. For additional information on
factors that could affect the forward-looking statements, see Kraft
Foods' risk factors, as they may be amended from time to time, set
forth in Kraft Foods' filings with the SEC, its most recently filed
Annual Report on Form 10-K and subsequent reports on Forms 10-Q and
8-K. Kraft Foods disclaims and does not undertake any
obligation to update or revise any forward-looking statement in
this press release except as required by applicable law or
regulation.
NOT FOR RELEASE OR DISTRIBUTION TO ANY PERSON LOCATED OR
RESIDENT IN ANY JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE,
PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT.
– make today delicious –
SOURCE Kraft Foods Inc.