Häagen-Dazs Maker Prices Debt for €4.4 Billion Owner Payout (2)

Froneri International Ltd., the maker of Häagen-Dazs ice cream, wrapped up commitments for a debt deal to help fund one of the largest shareholder payouts on record, as its private equity co-owner looks to keep its stake in the company for longer.

The UK-based manufacturer priced a €3.9 billion junk debt offering, the proceeds of which will fund a roughly €4.4 billion ($5.1 billion) payout to shareholders Nestlé SA and private equity firm PAI Partners.

The distribution, known as a dividend recapitalization, is among the largest so far this year. A hefty $4.5 billion dividend to the private ...