ANYTIMEkANYPLACEkANYWHERE - Heinz

had a weighted-average interest rate during Fiscal 2000 of 5.5% and at year-end of 6.2%.
In Fiscal 1999, the weighted-average rate was 5.3% and at year-end was 4.9%.
Long-Term (Dollars in thousands)
Range of
Interest
Maturity
(Fiscal Year) 2000 1999
United States Dollars:
Commercial paper Variable 2002 $2,084,175 $1,406,131
Senior unsecured notes and debentures 6.00–6.88% 2001–2029 740,537 1,040,013
Eurodollar notes 5.75–7.00 2002–2003 548,463 499,089
Revenue bonds 3.40–7.70 2001–2027 14,892 15,092
Promissory notes 3.00–10.00 2001–2005 20,967 67,397
Other 6.50 2001–2020 12,287 5,860
3,421,321 3,033,582
Foreign Currencies
(U.S. Dollar Equivalents):
Promissory notes:
Pound sterling 5.67–8.86% 2001–2030 235,388 10,230
Euro 5.00 2005 268,674 –
Italian lire 3.90–6.53 2001–2008 1,422 7,377
Australian dollar 6.10 2001–2002 6,152 13,421
Other 5.00–24.00 2001–2022 28,276 20,962
539,912 51,990
Total long-term debt 3,961,233 3,085,572
Less portion due within one year 25,407 613,366
$3,935,826 $2,472,206
The amount of long-term debt that matures in each of the four years succeeding 2001 is:
$2,404.8 million in 2002, $467.0 million in 2003, $7.7 million in 2004 and $279.7 million in 2005.
On January 5, 2000, the company issued R300 million of 5% Notes due 2005. The proceeds
were used to repay domestic commercial paper. On February 15, 2000, the company issued
$300 million of 7.0% Notes due 2002. The proceeds were used to repay domestic commercial
paper. On February 18, 2000, the company issued £125 million of 6.25% Notes due 2030.
The proceeds were used for general corporate purposes, including repaying commercial paper
borrowings that were incurred in connection with the acquisition of United Biscuit’s European
Frozen and Chilled Division in December 1999. The company entered into an interest rate
swap agreement with a notional amount of £50 million and a settlement date of April 2001.
This swap converts the 6.25% fixed rate to a floating rate.
On July 15, 1998, the company issued $250 million of 6.375% Debentures due July 2028.
The proceeds were used to repay domestic commercial paper.
7. SHAREHOLDERS’ EQUITY Capital Stock: The preferred stock outstanding is convertible at a rate of one share of
preferred stock into 13.5 shares of common stock. The company can redeem the stock at
$28.50 per share.
As of May 3, 2000, there were authorized, but unissued, 2,200,000 shares of third
cumulative preferred stock for which the series had not been designated.
Employee Stock Ownership Plan (‘‘ESOP’’): The company established an ESOP in 1990 to
replace in full or in part the company’s cash-matching contributions to the H.J. Heinz Company
Employees Retirement and Savings Plan, a 401(k) plan for salaried employees. Matching
contributions to the 401(k) plan are based on a percentage of the participants’ contributions,
subject to certain limitations.
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