NEW YORK - With the broad S&P 500 Index gliding once again into uncharted territory and posting four straight weeks of gains, the talk of Wall Street's rally inevitably hitting a ceiling is starting to get old.
LONDON - From ketchup to hot drinks, family-run investment firms are shaking up the consumer deals market, squeezing out private equity players and forcing them to change strategy.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.
Kraft to sell $9.5 billion debt to buy Cadbury: report
NEW YORK |
NEW YORK (Reuters) - Kraft Foods Inc KFT.N on Thursday launched a 4-part, $9.5 billion debt sale to help finance its acquisition of British confectioner Cadbury CBRY.L, IFR reported.
Kraft is planning to sell $1 billion of 3.25-year notes at a yield spread of 137.5 basis points over comparable Treasuries, said IFR, a Thomson Reuters service.
The company is planning to sell $1.75 billion of 6-year notes at 185 basis points over Treasuries, $3.75 billion of 10-year bonds at 185 basis points over Treasuries and $3 billion of 30-year bonds at 200 basis points over Treasuries.
BNP Paribas, Citigroup, Deutsche Bank, HSBC and Royal Bank of Scotland are joint lead managers on the deal.
(Reporting by Ciara Linnane; Editing by James Dalgleish)
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