UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 24, 2007
KRAFT FOODS INC.
(Exact name of registrant as specified in its charter)
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| Virginia
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1-16483
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52-2284372 |
| (State or other jurisdiction
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(Commission
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(I.R.S. Employer |
| of incorporation)
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File Number)
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Identification No.) |
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| Three Lakes Drive, Northfield, Illinois
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60093-2753 |
| (Address of Principal executive offices)
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(Zip Code) |
Registrant’s Telephone number, including area code: (847) 646-2000
Not Applicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR 240.13e-4(c))
Item 1.01. Entry into a Material Definitive Agreement.
The information described below under “Item 2.03. Creation of a Direct Financial Obligation or an
Obligation under an Off-Balance Sheet Arrangement of a Registrant” is hereby incorporated by
reference into this Item 1.01.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet
Arrangement of a Registrant.
On May 24, 2007, Kraft Foods Inc. (“Kraft”) entered into a senior unsecured 364-day revolving
credit agreement (the “Agreement”) with the lenders named therein and JPMorgan Chase Bank, N.A. and
Citibank N.A., as administrative agents. The Agreement provides for borrowings by Kraft and
certain subsidiaries in an aggregate principal amount of up to $1.5 billion. Under the Agreement,
Kraft guarantees the obligations of each subsidiary borrower. Interest on borrowings will be based
on prevailing interest rates as described in the Agreement. The Agreement has an expiration date
of May 22, 2008.
Subject to the conditions set forth in the Agreement, Kraft and the subsidiary borrowers may
borrow, prepay and reborrow amounts at any time during the term of the Agreement. The commitments
of the lenders under the Agreement will be reduced by an amount equal to the net cash proceeds
received by Kraft from certain debt or equity offerings having a maturity of greater than one year.
Kraft will use the Agreement, in addition to its existing $4.5 Billion 5-Year Revolving Credit
Agreement dated as of April 15, 2005, for general corporate purposes and to support its commercial
paper issuances. Some of the lenders under the Agreement and their affiliates have various
relationships with Kraft and its subsidiaries involving the provision of financial services,
including cash management, investment banking and trust services. In addition, Kraft and certain
of its subsidiaries have entered into foreign exchange and other derivative arrangements with
certain of the lenders and their affiliates.
The foregoing description of the Agreement is qualified in its entirety by reference to the
complete terms and conditions of the Agreement, which is filed as Exhibit 10.1 to this Current
Report on Form 8-K.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
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| Exhibit No. |
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Description |
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10.1
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$1.5 Billion 364-Day Revolving Credit Agreement dated as of May 24, 2007. |