Kraft Foods has sold US$9.5bn in debt to help finance the US food giant’s takeover of UK confectioner Cadbury.
The US company behind brands from Oreo cookies to Dairylea cheese launched a four-part offering with notes maturing in 2013, 2016, 2020 and 2040.
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“Kraft intends to use the net proceeds from the sale of the notes to finance the acquisition of Cadbury and, to the extent that any proceeds remain thereafter, for general corporate purposes,” the company said.
Meanwhile, Kraft said today (5 February) that over 75% of Cadbury shareholders had now accepted its bid.
The Dairy Milk maker will be delisted from the London Stock Exchange by 8 March.
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By GlobalData
