General Mills $1.5 billion notes offering
The investment-grade notes are due 2030 and 2035
Davis Polk advised the representatives of the several underwriters, in connection with a $1.5 billion SEC-registered offering by General Mills, Inc., consisting of $750 million of its 4.875% notes due 2030 and $750 million of its 5.250% notes due 2035.
Headquartered in Minneapolis, Minnesota, General Mills is guided by its Accelerate strategy to boldly build its brands, relentlessly innovate, unleash its scale and stand for good. Its portfolio of beloved brands includes household names like Cheerios, Nature Valley, Blue Buffalo, Häagen-Dazs, Old El Paso, Pillsbury, Betty Crocker, Yoplait, Totino’s, Annie’s, Wanchai Ferry, Yoki and more. General Mills generated fiscal 2024 net sales of $20 billion. In addition, the company’s share of non-consolidated joint venture net sales totaled $1 billion.
The Davis Polk capital markets team included partner John B. Meade and associate Xi (Brooke) Zheng. The tax team included partner Michael Mollerus and associates Kelsey Nelson and Jessie Lin. All members of the Davis Polk team are based in the New York office.