Wm. Wrigley Jr. Company Announces Intent to Refinance Up to $3.5 Billion
08 Dezembro 2009 - 6:06PM
PR Newswire (US)
CHICAGO, Dec. 8 /PRNewswire-FirstCall/ -- Wm. Wrigley Jr. Company
announced today that it intends to refinance up to $3.5 billion of
its existing secured term loans with new secured term loans, new
unsecured debt and cash on hand. The refinancing is subject to
satisfaction of certain conditions precedent including an amendment
to its existing credit agreement. The refinancing and amendment,
which are expected to occur in the final quarter of 2009, would
reduce Wrigley's interest expense going forward and provide it
greater flexibility in the future. Currently, Wrigley has $4,427
million of senior secured term loans, $4,400 million of
subordinated notes, $500 million of 4.30% senior unsecured notes
and $500 million of 4.65% senior unsecured notes outstanding.
Wrigley also has $250 million of availability under its undrawn
revolving loan facility. About The Wm. Wrigley Jr. Company The Wm.
Wrigley Jr. Company is a recognized leader in confections with a
wide range of product offerings including gum, mints, hard and
chewy candies, lollipops, and chocolate. The Company has operations
in more than 40 countries and distributes its world-famous brands
in more than 180 countries. Three of these brands - Wrigley's
Spearmint®, Juicy Fruit®, and Altoids® - have heritages stretching
back more than a century. Other well-loved brands include
Doublemint®, Life Savers®, Skittles®, Big Red®, Boomer®, Pim Pom®,
Winterfresh®, Extra®, Starburst®, Freedent®, Hubba Bubba®, Orbit®,
Excel®, Creme Savers®, Eclipse®, Airwaves®, Solano®, Sugus®,
Lockets®, P.K.®, Cool Air® and 5®. Wrigley is headquartered in
Chicago, Illinois and operates as a subsidiary of Mars,
Incorporated, based in McLean, Virginia . Mars is a $30-billion,
family-owned company that produces some of the world's leading
confectionery, food and petcare products and has growing beverage
and health & nutrition businesses. Cautionary Statement
Regarding Forward-Looking Information This press release contains
statements which may be considered forward- looking statements
within the meaning of the Securities Exchange Act of 1934,
including, without limitation, statements regarding operating
strategies, future plans and financial results. Forward-looking
statements may be accompanied by words such as "anticipate, "
"believe, " "plan, " "estimate, " "expect, " "project, " "intend,"
"may, " "will, " "would, " "contemplate, " "possible, " "attempt, "
"seek, " "should, " "could, " "goal, " "target, " "on track, "
"comfortable with," "optimistic" and similar words, although some
forward-looking statements are expressed differently. These
statements are based on current expectations of future events. A
variety of factors could cause actual results to differ materially
from the anticipated results or expectations expressed. Except as
required by law, Wrigley does not undertake any obligation to
update the information contained herein, which speaks only as of
the date of this press release. DATASOURCE: Wm. Wrigley Jr. Company
CONTACT: Wm. Wrigley Jr. Company, +1-312-644-2121 Web Site:
http://www.wrigley.com/
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