General Mills Enters Debt Agreement, Terminates Another

Ticker: GIS · Form: 8-K · Filed: 2024-10-15T00:00:00.000Z

Sentiment: neutral

Topics: debt, agreement, financing

Related Tickers: GIS

TL;DR

General Mills just signed a new debt deal and ditched an old one. Watch those interest payments.

AI Summary

On October 9, 2024, General Mills Inc. entered into a material definitive agreement related to its debt obligations. The company also terminated a material definitive agreement, the details of which are not specified in this filing. These actions create direct financial obligations for the registrant.

Why It Matters

This filing indicates a shift in General Mills' debt structure, which could impact its financial leverage and future borrowing costs.

Risk Assessment

Risk Level: medium — Changes in debt agreements can signal shifts in a company's financial strategy or obligations, potentially affecting its creditworthiness.

Key Players & Entities

FAQ

What specific debt agreement did General Mills enter into on October 9, 2024?

The filing indicates a 'Material Definitive Agreement' related to debt, but the specific details of the agreement are not provided in this summary.

What was the nature of the material definitive agreement that General Mills terminated?

The filing states that a 'Termination of a Material Definitive Agreement' occurred, but the specifics of this terminated agreement are not detailed.

What are the implications of the 'Creation of a Direct Financial Obligation' for General Mills?

This indicates that the new agreement creates a direct financial obligation for General Mills, which will be reflected on its balance sheet.

What is the SIC code for General Mills Inc.?

The Standard Industrial Classification code for General Mills Inc. is 2040 (GRAIN MILL PRODUCTS).

When is General Mills' fiscal year end?

General Mills' fiscal year ends on May 30th (0530).

From the Filing

0001193125-24-237500.txt : 20241015 0001193125-24-237500.hdr.sgml : 20241015 20241015140902 ACCESSION NUMBER: 0001193125-24-237500 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 15 CONFORMED PERIOD OF REPORT: 20241009 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: 20241015 DATE AS OF CHANGE: 20241015 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GENERAL MILLS INC CENTRAL INDEX KEY: 0000040704 STANDARD INDUSTRIAL CLASSIFICATION: GRAIN MILL PRODUCTS [2040] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 410274440 STATE OF INCORPORATION: DE FISCAL YEAR END: 0530 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-01185 FILM NUMBER: 241371290 BUSINESS ADDRESS: STREET 1: NUMBER ONE GENERAL MILLS BLVD CITY: MINNEAPOLIS STATE: MN ZIP: 55426 BUSINESS PHONE: (763) 764-7600 MAIL ADDRESS: STREET 1: P O BOX 1113 CITY: MINNEAPOLIS STATE: MN ZIP: 55440 8-K 1 d862332d8k.htm 8-K 8-K GENERAL MILLS INC false 0000040704 0000040704 2024-10-09 2024-10-09 0000040704 us-gaap:CommonStockMember 2024-10-09 2024-10-09 0000040704 gis:M0.125NotesDue20252Member 2024-10-09 2024-10-09 0000040704 gis:ZeroPointFourFiveZeroPercentNotesDue2026Member 2024-10-09 2024-10-09 0000040704 gis:OnePointFiveZeroZeroPercentNotesDue2027Member 2024-10-09 2024-10-09 0000040704 gis:M3.907NotesDue20291Member 2024-10-09 2024-10-09 0000040704 gis:ThreePointSixFiveZeroPercentNotesDue2030Member 2024-10-09 2024-10-09 0000040704 gis:ThreePointEightFiveZeroPercentNotesDue2034Member 2024-10-09 2024-10-09     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): October 9, 2024     General Mills, Inc. (Exact name of Registrant as Specified in Its Charter)       Delaware   001-01185   41-0274440 (State or Other Jurisdiction of Incorporation)   (Commission File Number)   (IRS Employer Identification No.)   Number One General Mills Boulevard Minneapolis , Minnesota     55426 (Address of Principal Executive Offices)     (Zip Code) Registrant’s Telephone Number, Including Area Code: (763) 764-7600 Not Applicable (Former Name or Former Address, if Changed Since Last Report)     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 (see General Instructions A.2. below):   ☐ 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(s)   Name of each exchange on which registered Common Stock, $.10 par value   GIS   New York Stock Exchange 0.125% Notes due 2025   GIS 25A   New York Stock Exchange 0.450% Notes due 2026   GIS 26   New York Stock Exchange 1.500% Notes due 2027   GIS 27   New York Stock Exchange 3.907% Notes due 2029   GIS 29   New York Stock Exchange 3.650% Notes due 2030   GIS 30A   New York Stock Exchange 3.850% Notes due 2034   GIS 34   New York Stock Exchange Indicate by check mark whether the registrant is an emerging

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