Kraft offers to exchange up to $3.6 billion in debt
Kraft Foods Inc. offered to exchange as much as $3.6 billion in debt in an offer that includes eight series of notes that begin coming due in 2018.
Kraft said Tuesday that it would offer more cash in its $16 billion hostile takeover bid for the British chocolate maker Cadbury, using the proceeds from a $3.7 billion sale of its North American pizza unit to Nestlé.