Gum giant Wrigley is looking to refinance up to US$3.5bn in loans in a bid to cut its interest costs.

The company, a subsidiary of Mars Inc., and part of the world's largest confectionery maker, said yesterday (8 December) that it had $4.43bn of senior secured-term loans.

Wrigley also revealed that it had $4.4bn in subordinated notes, $500m of 4.30% senior unsecured notes and $500m in 4.65% senior unsecured notes outstanding.

The business also has $250m of availability under its undrawn revolving loan facility.

Wrigley said it hoped to secure the refinancing by the end of the year.