US Food Giant Issues €2 Billion Eurobond with 30-Year Maturity

General Mills, Inc. (NYSE: GIS) on April 9 signed underwriting agreements with Barclays, Deutsche Bank, Citigroup, JPMorgan and others for a public offering of subordinated notes totaling €1.7 billion (approximately KRW 2.5 trillion). The company will issue two series of fixed-rate, reset-style subordinated notes due 2056—€1.0 billion of 4.75% Series A and €0.7 billion of 5.25% Series B—under an existing indenture, with U.S. Bank Trust serving as trustee. The offering terms include customary representations and warranties, covenants, conditions to closing, indemnification and expense reimbursement provisions.

On March 18, the company reported third-quarter results for fiscal 2026, stating it will pursue a recovery in organic growth amid a challenging consumer environment by cutting prices, strengthening promotions and streamlining its portfolio. At the February CAGNY conference, General Mills also updated its fiscal 2026 outlook, highlighted progress on its Accelerate strategy and outlined plans to bolster brand equity and expand digital investments.

Headquartered in Minneapolis, Minnesota, General Mills is a global consumer packaged foods company that sells a wide range of processed foods—cereals, snacks, yogurt and ice cream—worldwide. Its portfolio includes major brands such as Cheerios, Betty Crocker, Häagen-Dazs and Nature Valley, and it supplies products through its North America Retail, International, Pet Foods and Foodservice segments via leading retail channels and e-commerce platforms.