The Hershey Company (NYSE: HSY) announced a new debt offering of $2 billion in senior notes, consisting of four tranches:

- $500 million of 4.550% Notes due 2028
- $500 million of 4.750% Notes due 2030
- $500 million of 4.950% Notes due 2032
- $500 million of 5.100% Notes due 2035

The company plans to use the proceeds to repay its outstanding 0.900% Senior Notes due 2025 and 3.200% Senior Notes due 2025, as well as short-term commercial paper borrowings. Any remaining funds will be allocated for general corporate purposes.

The offering was executed through a pricing agreement with BofA Securities, Citigroup Global Markets, J.P. Morgan Securities, RBC Capital Markets, and U.S. Bancorp Investments. The notes were issued under Hershey’s registration statement on Form S-3 filed with the SEC.

Hershey noted that some underwriters have previously engaged in commercial and investment banking transactions with the company. Affiliates of certain underwriters also serve as lenders under the company’s existing credit agreements.