Campbell Soup has raised $500 million in a sale of senior unsecured notes, The Wall Street Journal reports. The canned soups producer appointed Morgan Stanley, Bank of America Merrill Lynch and UBS as the joint bookrunning managers for the deal.
The notes carry a coupon rate of 4.25% and are due to mature on April 15, 2021. The company intends to use the net proceeds for general corporate purposes, which could include the repayment of remaining debt securities.
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