Candy Maker Mars Is Selling Biggest US Bond of Year to Fund Kellanova Buy

Mars Inc. sold $26 billion of US high-grade bonds on Wednesday to help fund its acquisition of rival foodmaker Kellanova, in the biggest US corporate bond sale of the year.

The candy maker saw strong demand for the bonds with investors placing orders for around $114.4 billion worth of notes, the biggest final order book on record for the US corporate market, according to people with knowledge of the transactions.