BATTLE CREEK, Mich., March 24, 2016 /PRNewswire/ -- Kellogg Company (NYSE: K) (the "Company") announced today the expiration of its previously announced tender offer (the "Tender Offer") to purchase for cash up to $474,821,000 aggregate principal amount (the "Maximum Tender Amount") of its 7.45% Debentures due 2031 (the "Debentures").
As of 11:59 p.m., New York City time, on March 23, 2016 (the "Expiration Date"), $474,971,000 aggregate principal amount of the Debentures had been tendered and not withdrawn pursuant to the Tender Offer. As of 5:00 p.m., New York City time, on March 9, 2016 (the "Early Tender Date"), an aggregate principal amount of Debentures equal to the Maximum Tender Amount were validly tendered and not validly withdrawn pursuant to the Tender Offer. All Debentures validly tendered and not validly withdrawn pursuant to the Tender Offer at or prior to the Early Tender Date were accepted for purchase and settled by the Company on March 10, 2016 (the "Early Settlement Date"). As a result of the Tender Offer being fully subscribed at the Early Tender Date and the acceptance priority for Debentures described in the Offer to Purchase dated February 25, 2016, no Debentures tendered after the Early Tender Date will be accepted for purchase. Debentures tendered and not accepted for purchase will be promptly returned or credited to the applicable holders account.
This news release shall not constitute an offer to sell, a solicitation to buy or an offer to purchase or sell any securities. The Tender Offer was made only pursuant to the Offer to Purchase, as amended by the Company press release dated March 10, 2016 announcing the Early Tender Date results and upsizing of the Maximum Tender Amount, and only in such jurisdictions as is permitted under applicable law.
About Kellogg Company
At Kellogg Company (NYSE: K), we are driven to enrich and delight the world through foods and brands that matter. With 2015 sales of approximately $13.5 billion, Kellogg is the world's leading producer of cereal, second largest producer of cookies and crackers, and a leading producer of savory snacks and frozen foods. Every day, our well-loved brands nourish families so they can flourish and thrive. These brands include Kellogg's®, Keebler®, Special K®, Pringles®, Frosted Flakes®, Pop-Tarts®, Corn Flakes®, Rice Krispies®, Kashi®, Cheez-It®, Eggo®, Coco Pops®, Mini-Wheats®, and many more. To learn more about our responsible business leadership, foods that delight and how we strive to make a difference in our communities around the world, visit www.kelloggcompany.com.
This news release contains, or incorporates by reference, "forward-looking statements." Forward-looking statements include predictions of future results or activities and may contain the words "expects," "believes," "should," "will," "anticipates," "projects," "estimates," "implies," "can," or words or phrases of similar meaning. The Company's actual results or activities may differ materially from these predictions. The Company's future results could also be affected by a variety of factors, including the ability to consummate the Tender Offer. Forward-looking statements speak only as of the date they were made, and the Company undertakes no obligation to update them publicly.
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SOURCE Kellogg Company