Kraft Foods has secured a US$4bn 364-day revolving credit line.
The company said that the loan facility would be used for general corporate purposes. A revolving credit allows greater financial flexibility, because money can be borrowed again once it has been repayed.
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Barclays Plc, Citigroup Inc., JPMorgan Chase & Co. and Royal Bank of Scotland arranged the debt, the company revealed in a regulatory filing.
CEO Irene Rosenfeld plans to split Kraft in two later this year, spinning off Kraft’s North American grocery business, while the remaining global snacks business will focus on expanding in emerging markets.
