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CONSUMER STAPLES: Mars acquisition of Kellanova; Supply may come soon (bbg)

CONSUMER STAPLES

(K; Baa2 CW Pos/NR/BBB CW Pos) (MARS; A1 CW Neg/A+ CW Neg)

It was a $35.9b purchase funded by a $29b bridge-loan. Mars is currently a $ only issuer and below does not clarify which currencies it may tap for refi. It does hint at timing as potentially December but more likely as early next year (citinginsiders).

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(K; Baa2 CW Pos/NR/BBB CW Pos) (MARS; A1 CW Neg/A+ CW Neg)

It was a $35.9b purchase funded by a $29b bridge-loan. Mars is currently a $ only issuer and below does not clarify which currencies it may tap for refi. It does hint at timing as potentially December but more likely as early next year (citinginsiders).

Keep reading...Show less