Reported about 15 hours ago
Mars Inc. has secured $26 billion in high-grade bonds, marking the largest corporate bond sale of the year in the U.S., to finance its acquisition of rival Kellanova. The bond offering attracted overwhelming investor interest, with orders surpassing $114 billion, reflecting strong demand and the company's solid financial performance. Mars aims to diversify its snack portfolio by adding Kellanova’s popular brands, despite facing credit rating downgrades due to the increased debt associated with the acquisition.
Source: YAHOO