Press release content from Business Wire. The AP news staff was not involved in its creation.
General Mills Announces Early Participation Results of and Amendments to Exchange Offer
January 22, 2021 GMT
MINNEAPOLIS--(BUSINESS WIRE)--Jan 22, 2021--
General Mills, Inc. (“General Mills”) (NYSE: GIS) today announced the early participation results, as of 5:00 p.m., New York City time, on January 21, 2021 (the “Early Participation Time”), of its previously announced offer to exchange (the “Exchange Offer”) the four series of notes described in the below table (collectively, the “Existing Notes”) for a combination of cash and a series of newly issued General Mills notes due 2051 (the “New Notes”). In addition, General Mills announced that it has increased the Exchange Consideration (as defined in the offering memorandum, dated January 7, 2021 (the “Offering Memorandum”)) for Existing Notes validly tendered after the Early Participation Time, but at or prior to the Expiration Time (as defined below), by $30 of principal amount of New Notes for each $1,000 principal amount of Existing Notes tendered and accepted for exchange. As a result, the consideration to be paid for Existing Notes validly tendered (i) at or prior to the Early Participation Time and (ii) following the Early Participation Time, but at or prior to the Expiration Time, will be the same. Except as described in this press release, the terms and conditions of the Exchange Offer, as set forth in the Offering Memorandum, remain unchanged.