Family-owned candy giant Mars is preparing to sell bonds worth between $25 billion and $30 billion as soon as next week to help finance its takeover of Pringles maker Kellanova, according to people familiar with the matter, in a deal that would headline a $40 billion rush of acquisition financing bonds.
Banks led by Citigroup and JPMorgan Chase are preparing to market the bond sale to potential investors sometime next week, the sources said, cautioning that the timing of the bonds sale is subject to market conditions and could change.