Mondelez Refinances Debt, Terminates Agreement

Ticker: MDLZ · Form: 8-K · Filed: 2024-02-21T00:00:00.000Z

Sentiment: neutral

Topics: debt, refinancing, corporate-finance

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

FAQ

What was the filing date of this 8-K by Mondelez International, Inc.?

The 8-K was filed on February 21, 2024.

What types of agreements were reported in this 8-K?

The 8-K reported the entry into a material definitive agreement and the termination of a material definitive agreement, as well as the creation of a direct financial obligation.

What is the earliest maturity date for the new notes issued by Mondelez?

The earliest maturity date for the new notes is 2027, for the 1.625% Notes.

What is the highest interest rate among the new notes mentioned in the filing?

The highest interest rate among the new notes mentioned is 4.5% for Notes due 2035.

When did the new debt agreements become effective?

The new debt agreements became effective on February 20, 2024.

From the Filing

0001103982-24-000027.txt : 20240221 0001103982-24-000027.hdr.sgml : 20240221 20240221170623 ACCESSION NUMBER: 0001103982-24-000027 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 16 CONFORMED PERIOD OF REPORT: 20240221 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Termination of a Material Definitive Agreement ITEM INFORMATION: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240221 DATE AS OF CHANGE: 20240221 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Mondelez International, Inc. CENTRAL INDEX KEY: 0001103982 STANDARD INDUSTRIAL CLASSIFICATION: FOOD & KINDRED PRODUCTS [2000] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 522284372 STATE OF INCORPORATION: IL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-16483 FILM NUMBER: 24660822 BUSINESS ADDRESS: STREET 1: 905 WEST FULTON MARKET STREET 2: SUITE 200 CITY: CHICAGO STATE: IL ZIP: 60607 BUSINESS PHONE: 847-943-4000 MAIL ADDRESS: STREET 1: 905 WEST FULTON MARKET STREET 2: SUITE 200 CITY: CHICAGO STATE: IL ZIP: 60607 FORMER COMPANY: FORMER CONFORMED NAME: KRAFT FOODS INC DATE OF NAME CHANGE: 20000121 8-K 1 mdlz-20240221.htm 8-K mdlz-20240221 0001103982 FALSE 0001103982 2024-02-20 2024-02-20 0001103982 us-gaap:CommonClassAMember 2024-02-20 2024-02-20 0001103982 mdlz:OnePointSixTwentyFivePercentNotesDue2027Member 2024-02-20 2024-02-20 0001103982 mdlz:ZeroPointTwoFiftyPercentNotesDue2028Member 2024-02-20 2024-02-20 0001103982 mdlz:ZeroPointSevenFiftyPercentNotesDue2033Member 2024-02-20 2024-02-20 0001103982 mdlz:TwoPointThreeSeventyFivePercentNotesDue2035Member 2024-02-20 2024-02-20 0001103982 mdlz:FourPointFivePercentNotesDue2035Member 2024-02-20 2024-02-20 0001103982 mdlz:OnePointThreeSeventyFivePercentNotesDue2041Member 2024-02-20 2024-02-20 0001103982 mdlz:ThreePointEightSeventyFivePercentNotesDue2045Member 2024-02-20 2024-02-20 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________ FORM 8-K ___________________________________ CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (date of earliest event reported): February 21, 2024 ___________________________________ MONDELĒZ INTERNATIONAL, INC. (Exact name of registrant as specified in its charter) ___________________________________ Virginia (State or other jurisdiction of incorporation) 1-16483 (Commission File Number) 52-2284372 (I.R.S. Employer Identification Number) 905 West Fulton Market, Suite 200 , Chicago , IL 60607 (Address of principal executive offices, including zip code) ( 847 ) 943-4000 (Registrant's telephone number, including area code) ___________________________________ Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol Name of each exchange on which registered Class A Common Stock, no par value MDLZ The Nasdaq Global Select Market 1.625% Notes due 2027 MDLZ27 The Nasdaq Stock Market LLC 0.250% Notes due 2028 MDLZ28 The Nasdaq Stock Market LLC 0.750% Notes due 2033 MDLZ33 The Nasdaq Stock Market LLC 2.375% Notes due 2035 MDLZ35 The Nasdaq Stock Market LLC 4.500% Notes due 2035 MDLZ35A The Nasdaq Stock Market LLC 1.375% Notes due 2041 MDLZ41 The Nasdaq Stock Market LLC

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