Mondelez Refinances Debt, Terminates Agreement

TL;DR

**Mondelez just restructured a bunch of its debt, issuing new notes with varying interest rates and maturities.**

AI Summary

Mondelez International, Inc. filed an 8-K on February 21, 2024, detailing the termination of a material definitive agreement and the creation of new direct financial obligations. The company entered into new debt agreements for various notes, including 1.625% Notes due 2027, 0.250% Notes due 2028, 0.750% Notes due 2033, 2.375% Notes due 2035, 4.5% Notes due 2035, and 1.375% Notes due 2041, all effective February 20, 2024. This indicates a refinancing or restructuring of their debt portfolio.

Why It Matters

This filing shows Mondelez is actively managing its debt structure, which can impact its cost of capital and financial flexibility for future investments or shareholder returns.

Risk Assessment

Risk Level: low — The filing primarily details routine debt management activities, which are common for large corporations and do not inherently indicate significant new risks.

Key Players & Entities

• Mondelez International, Inc. (company) — filer
• February 21, 2024 (date) — filing date
• February 20, 2024 (date) — effective date of agreements
• 1.625% (dollar_amount) — interest rate for Notes due 2027
• 2027 (date) — maturity year for Notes
• 0.250% (dollar_amount) — interest rate for Notes due 2028
• 2028 (date) — maturity year for Notes
• 0.750% (dollar_amount) — interest rate for Notes due 2033
• 2033 (date) — maturity year for Notes
• 2.375% (dollar_amount) — interest rate for Notes due 2035

FAQ

Key Financial Figures

• $1.5 billion — nt of a Registrant.", we terminated our $1.5 billion 364-day senior unsecured revolving cred
• $500 million — evolving facility be increased by up to $500 million in the aggregate with the agreement of
• $25.0 billion — m shareholders' equity of not less than $25.0 billion. The 364-Day Revolving Credit Agreement

Filing Documents

• mdlz-20240221.htm (8-K) — 41KB
• ex_101.htm (EX-10.1) — 755KB
• 0001103982-24-000027.txt ( ) — 1115KB
• mdlz-20240221.xsd (EX-101.SCH) — 4KB
• mdlz-20240221_def.xml (EX-101.DEF) — 18KB
• mdlz-20240221_lab.xml (EX-101.LAB) — 39KB
• mdlz-20240221_pre.xml (EX-101.PRE) — 19KB
• mdlz-20240221_htm.xml (XML) — 8KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. The information described below under "Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant." is hereby incorporated by reference into this Item 1.01.

02. Termination of a Material Definitive Agreement

Item 1.02. Termination of a Material Definitive Agreement. In connection with entry into the 364-Day Revolving Credit Agreement described below under "Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.", we terminated our $1.5 billion 364-day senior unsecured revolving credit agreement, dated as of February 22, 2023. Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. 364-Day Revolving Credit Agreement On February 21, 2024, we entered into a revolving credit agreement (the "364-Day Revolving Credit Agreement") for a 364-day senior unsecured revolving credit facility in an aggregate principal amount of $1.5 billion with the lenders named in the 364-Day Revolving Credit Agreement and JPMorgan Chase Bank, N.A., as administrative agent. Under the 364-Day Revolving Credit Agreement, we and certain of our subsidiaries that we may designate may borrow up to the aggregate amount of the unused commitments under the 364-Day Revolving Credit Agreement. The 364-Day Revolving Credit Agreement will terminate on February 19, 2025 (the "Termination Date"). We may request the amount of the 364-day revolving facility be increased by up to $500 million in the aggregate with the agreement of the lenders providing the increased commitments. We may extend the maturity of any loans outstanding on the Termination Date to February 19, 2026, subject to delivery of prior notice and satisfaction of other conditions. We also have the right, subject to certain conditions, to terminate in whole or reduce ratably in part the unused portions of the respective commitments of the lenders. All committed pro rata borrowings under the 364-Day Revolving Credit Agreement will bear interest at a variable annual rate based on SOFR or base rate, at our election, plus an applicable margin (as determined pursuant to the 364-Day Revolving Credit Agreement)

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) The following exhibits are being filed with this Current Report on Form 8-K. 2 Exhibits Description 10.1 364-Day Revolving Credit Agreement, dated February 21, 2024, by and among Mondelz International, Inc., the lenders named therein and JPMorgan Chase Bank, N.A., as Administrative Agent. 104 The cover page from Mondelz International, Inc.'s Current Report on Form 8-K, formatted in Inline XBRL (included as Exhibit 101). 3

SIGNATURES

SIGNATURES 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. MONDELZ INTERNATIONAL, INC. By: /s/ Luca Zaramella Name: Luca Zaramella Title: Executive Vice President and Chief Financial Officer Date: February 21, 2024 4

View Full Filing

View this 8-K filing on SEC EDGAR