Barry Callebaut successfully prices USD 400 million 5.5% senior notes due 2023

Press Release
  • Barry Callebaut announces the successful pricing of USD 400 million 5.5% senior Notes due 2023

Barry Callebaut AG announced today the successful pricing of USD 400 million 5.5% senior notes due 2023 (the “Notes”) with estimated gross proceeds totalling USD 392.5 million. The remaining amount will be financed through the partial funding of an existing bridge loan.

The proceeds of the offering will be used to fund a portion of the consideration in respect of the previously announced acquisition of the Cocoa Ingredients Division of Petra Foods for USD 950 million (subject to customary closing adjustments).

In light of the volatility in the debt markets and the pricing of the bonds at a coupon higher than expected, the Company decided to reduce the amount from USD 600 million to USD 400 million.

The Notes will be due June 15, 2023 with a coupon of 5.5%. The Notes are unsecured and rank pari passu with the existing revolving credit facility and the existing notes.

The gross proceeds will be deposited into an escrow account upon closing until the satisfaction of certain conditions set forth in an escrow agreement, including the closing of the acquisition. 

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+41 43 204 04 23
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