General Mills Prices $1.5B Senior Notes Offering
Ticker: GIS · Form: 8-K · Filed: Sep 17, 2024 · CIK: 40704
| Field | Detail |
|---|---|
| Company | General Mills INC (GIS) |
| Form Type | 8-K |
| Filed Date | Sep 17, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 2 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: debt-offering, financing, notes
Related Tickers: GIS
TL;DR
General Mills just raised $1.5B in debt across multiple note maturities.
AI Summary
On September 12, 2024, General Mills, Inc. announced the pricing of its senior unsecured notes, totaling $1.5 billion. The notes are due in various years, including 2025, 2026, 2027, 2029, 2030, and 2034, with interest rates ranging from 0.125% to 3.850%. This offering is part of the company's ongoing financing activities.
Why It Matters
This debt issuance provides General Mills with capital for its operations and strategic initiatives, impacting its financial leverage and future investment capacity.
Risk Assessment
Risk Level: low — This filing is a routine debt issuance announcement with no immediate negative implications for the company.
Key Numbers
- $1.5B — Senior Notes Offering (Total principal amount raised by General Mills.)
- 0.125% — Lowest Interest Rate (Rate for notes maturing in 2025.)
- 3.850% — Highest Interest Rate (Rate for notes maturing in 2034.)
Key Players & Entities
- General Mills, Inc. (company) — Registrant
- $1.5 billion (dollar_amount) — Total principal amount of senior unsecured notes
- September 12, 2024 (date) — Date of earliest event reported
- 0.125% (dollar_amount) — Interest rate for notes due 2025
- 3.850% (dollar_amount) — Interest rate for notes due 2034
FAQ
What is the total principal amount of the senior unsecured notes General Mills priced?
General Mills priced its senior unsecured notes totaling $1.5 billion.
On what date did General Mills announce the pricing of these notes?
The earliest event reported, the pricing of the notes, occurred on September 12, 2024.
What are the maturity dates for the notes issued by General Mills?
The notes are due in various years, including 2025, 2026, 2027, 2029, 2030, and 2034.
What is the lowest interest rate associated with this note offering?
The lowest interest rate is 0.125% for the notes due in 2025.
What is the highest interest rate for the notes issued by General Mills?
The highest interest rate is 3.850% for the notes due in 2034.
Filing Stats: 586 words · 2 min read · ~2 pages · Grade level 10.1 · Accepted 2024-09-17 14:58:32
Filing Documents
- d804768d8k.htm (8-K) — 34KB
- d804768dex99.htm (EX-99) — 8KB
- 0001193125-24-220459.txt ( ) — 227KB
- gis-20240912.xsd (EX-101.SCH) — 5KB
- gis-20240912_def.xml (EX-101.DEF) — 15KB
- gis-20240912_lab.xml (EX-101.LAB) — 25KB
- gis-20240912_pre.xml (EX-101.PRE) — 16KB
- d804768d8k_htm.xml (XML) — 11KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits . 99 Press release of General Mills, Inc. dated September 12, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: September 17, 2024 GENERAL MILLS, INC. By: /s/ Karen Wilson Thissen Name: Karen Wilson Thissen Title: General Counsel and Secretary