Magnum Ice Cream raises $3.5 billion in bond issue, Unilever spinoff nears

Reuters
11/27
Magnum Ice Cream raises $3.5 billion in bond issue, Unilever spinoff nears

LONDON, Nov 26 (Reuters) - The Magnum Ice Cream Company on Wednesday said it had completed a 3 billion euro ($3.48 billion) debut bond issue that was oversubscribed seven times, less than two weeks before the company will finalise a spinoff from Unilever ULVR.L and list in Amsterdam.

Magnum, which also includes brands such as Wall's and Ben & Jerry's, is ready to tackle challenges from logistics to the rising popularity of weight-loss drugs when it goes solo, its supply chain head told Reuters this week.

Magnum expects to make productivity and efficiency savings as it transitions to a pure-play ice cream business and is betting on consumers continuing to crave indulgent snacks even as healthy eating trends gain prominence.

"The level of interest shown by the market was fantastic, with the order book being oversubscribed by over seven times," CFO Abhijit Bhattacharya said in a statement.

The bond was issued across four tranches of 750 million euros each, Magnum said, due in 2029, 2031, 2034, and 2037, at interest rates ranging from 2.75% to 4%.

Magnum said the issue's net proceeds would be used for "general corporate purposes," including facilitating the demerger from Unilever, which is due to be completed on December 6. Magnum's shares will begin trading on December 8.

($1 = 0.8625 euros)

(Reporting by Alexander MarrowEditing by Rod Nickel)

((alexander.marrow@thomsonreuters.com; +447393253522))

免责声明:投资有风险,本文并非投资建议,以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请,作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考,不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证,投资者应自行研究并在投资前寻求专业建议。

热议股票

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10