| Item 1.01. | Entry into a Material Definitive Agreement. |
Indenture
On May 6, 2024, Kellanova (the “Company”) entered into an indenture with U.S. Bank Trust Company, National Association, as trustee (the “Indenture”), which provides for the issuance of debt securities by the Company, and pursuant to which the Company will issue the Notes (as defined below). The Indenture contains covenants limiting, among other things and subject to certain exceptions, the ability of the Company and its Restricted Subsidiaries (as defined therein) to: incur debt that is secured by a Principal Property (as defined therein) or stock or debt of a Restricted Subsidiary; or enter into a sale and lease-back transaction of any Principal Property. The terms of the Indenture contain customary events of default with respect to any series of debt securities, including: default for 30 days in payment of interest; default in payment of principal (or premium, if any); failure to comply with the covenants or agreements in the Indenture; and certain events of bankruptcy, insolvency or reorganization.
The description of the Indenture in this Current Report on Form 8-K is qualified in its entirety by reference to the complete text of the Indenture, a copy of which is filed as Exhibit 4.1 hereto and is incorporated herein by reference.
Underwriting Agreements
On May 6, 2024, the Company priced an offering of $300,000,000 of 5.750% Senior Notes due 2054 (the “USD Notes”). In connection with such offering, the Company entered into an Underwriting Agreement, dated as of May 6, 2024 (the “USD Underwriting Agreement”), with Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC, as representatives of the several underwriters named therein. The USD Notes were registered under the Securities Act of 1933, as amended (the “Securities Act”), pursuant to the Company’s Registration Statement on Form S-3 (File No. 333-279131) filed with the U.S. Securities and Exchange Commission (the “Commission”) on May 6, 2024 (the “Registration Statement”).
On May 7, 2024, the Company filed with the Commission a Prospectus Supplement, dated as of May 6, 2024 (the “USD Prospectus Supplement”), in connection with the public offering of the USD Notes.
On May 7, 2024, the Company priced an offering of €300,000,000 of 3.750% Senior Notes due 2034 (the “EUR Notes” and, together with the USD Notes, the “Notes”). In connection with such offering, the Company entered into an Underwriting Agreement, dated as of May 7, 2024 (together with the USD Underwriting Agreement, the “Underwriting Agreements”), with Barclays Bank PLC, Merrill Lynch International and Coöperatieve Rabobank U.A., as representatives of the several underwriters named therein. The EUR Notes were registered under the Securities Act pursuant to the Registration Statement.
On May 8, 2024, the Company filed with the Commission a Prospectus Supplement, dated as of May 7, 2024 (together with the USD Prospectus Supplement, the “Prospectus Supplements”) in connection with the public offering of the EUR Notes.
For a complete description of the terms and conditions of the Underwriting Agreements, please refer to the Prospectus Supplements and the copies of the Underwriting Agreements, which are filed as exhibits 1.1 and 1.2 hereto and are incorporated herein by reference.
Certain of the underwriters and their respective affiliates have, from time to time, performed, and may in the future perform, various financial advisory and investment banking services for the Company, for which they received or will receive customary fees and expenses.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits.
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Exhibit
No. | | Description |
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| Exhibit 1.1 | | Underwriting Agreement, dated May 6, 2024, by and among Kellanova, Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC. |
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| Exhibit 1.2 | | Underwriting Agreement, dated May 7, 2024, by and among Kellanova, Barclays Bank PLC, Merrill Lynch International and Coöperatieve Rabobank U.A. |
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| Exhibit 4.1 | | Indenture, dated May 6, 2024, between Kellanova and U.S. Bank Trust Company, National Association, incorporated by reference to Exhibit 4.1 to the Company’s Registration Statement, Commission on Form S-3 (File No. 333-279131). |
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| Exhibit 104 | | Cover Page Interactive Data File (formatted as inline XBRL). |
