Mars, Incorporated Announces Offering of Senior Notes

MCLEAN, Va., March 4, 2025 /PRNewswire/ -- Mars, Incorporated (the "Company" or "Mars") announced today the commencement of a private offering of senior notes (the "Notes"). This offering is part of the financing for our pending acquisition (the "Acquisition") of Kellanova, a Delaware corporation (NYSE: K) ("Kellanova"), which remains subject to customary closing conditions, including regulatory approvals. The Company intends to use the net proceeds from this offering of the Notes, together with other financing sources and cash on hand, to fund the Acquisition and pay related fees and expenses. The issuance of the Notes may occur prior to the closing of the Acquisition, and the closing of this offering is not conditioned upon the consummation of the Acquisition. If the Acquisition is not consummated on or prior to August 20, 2026, or the merger agreement for the Acquisition is earlier terminated, the Notes will be subject to a special mandatory redemption at a redemption price equal to 101% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest thereon, if any.

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