- Start
- Feb 19, 202590% CONFIDENCEfrom the source
Hershey Prices $2 Billion of Notes in Four Tranches
- Hershey priced $500 million of 4.550% notes due 2028, $500 million of 4.750% notes due 2030, $500 million of 4.950% notes due 2032 and $500 million of 5.100% notes due 2035[1]
- Proceeds go to repay its 0.900% and 3.200% senior notes due 2025 and some short-term commercial paper, plus fees and general corporate purposes[1]
- The final prospectus puts the total at $2,000,000,000 with estimated net proceeds of about $1,984,457,000; each 2025 note series had $300 million outstanding[4]
- BofA Securities, Citigroup, J.P. Morgan, RBC Capital Markets and U.S. Bancorp Investments were representatives of the underwriters[5]
- The offering closed on February 24, 2025, under Hershey's 2009 indenture with U.S. Bank Trust Company as trustee[3]
- Hershey later said its 2025 interest expense reflected "interest rates on our recent note issuance"[2]
References 689% CONFIDENCE
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- [1]90%thehersheycompany.com/en_us/home/newsroom/press-release/2025-02-19-The-Hershey-Company-Announces-Pricing-of-500,000,000-4-550-Notes-Due-2028,-500,000,000-4-750-Notes-Due-2030,-500,000,000-4-950-Notes-Due-2032-and-500,000,000-5-100-Notes-Due-2035.htmlthehersheycompany.com· Posted Sep 24, 2026· Starts Feb 19, 2025 ✓· 64% of score
Stated as firm: the pricing release is datelined "HERSHEY, Pa., Feb. 19, 2025 /PRNewswire/" and stamped 17:18 ET (22:18 UTC); the 8-K says Hershey "entered into a Pricing Agreement" on February 19, 2025.
- [2]75%Hershey Reports First-Quarter 2025 Financial Resultsthehersheycompany.com· Published May 1, 2025· 9% of score
Hershey's 2025 outlook put interest expense at $185-190 million, "reflecting interest rates on our recent note issuance".[1]
- [3]90%Hershey Form 8-K: closing of the notes offeringsec.gov· Published Feb 24, 2025· 7% of score
Form 8-K reporting that on February 24, 2025 Hershey closed the offering of the four note series.[1]
- [4]92%The Hershey Company prospectus supplement: $2,000,000,000 of notessec.gov· Published Feb 20, 2025· 7% of score
Final prospectus (424B2) filed 20 February 2025: four $500 million series, use of proceeds, estimated net proceeds of $1,984,457,000.[1]
- [5]92%Hershey Form 8-K: pricing agreement for the notessec.gov· Published Feb 20, 2025· 7% of score
Form 8-K reporting that on February 19, 2025 Hershey entered into a Pricing Agreement with BofA, Citi, J.P. Morgan, RBC and U.S. Bancorp as underwriters' representatives.[1]
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