Reported 1 day ago
Mars Inc. has raised $1 billion through privately-placed bonds to begin repaying bank loans used to acquire foodmaker Kellanova. This private debt, offered to institutional investors in various tranches, signals Mars' strategy to transition from a $29 billion bridge loan to long-term corporate debt. The company plans to tap into the public investment-grade bond market in the coming weeks, with Citigroup and JPMorgan facilitating the transaction.
Source: YAHOO