(Bloomberg) -- McDonald’s Corp. sold $1 billion of bonds Tuesday that may help the fast-food giant refinance debt due in coming months. 

The company is issuing $500 million each of five- and 10-year notes, according to a person with knowledge of the matter. The 10-year bond was priced 0.8 percentage point above comparable Treasuries, said the person, who asked not to be identified because they’re not authorized to speak about it. Early price talk ranged from 1.05 to 1.1 points.

McDonald’s didn’t respond to a request for comment.

Bloomberg Intelligence senior credit analyst Jody Lurie wrote in a Tuesday note that she expects some of the proceeds to go toward refinancing $1.5 billion in debt due later this year. 

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The offering comes two weeks after McDonald’s reported first-quarter results that fell short of estimates, hampered by slowing growth in the US and reverberations of the Israel-Hamas war. Bloomberg News reported earlier this month that the company is looking to launch a $5 meal deal in the US in hopes of luring back money-conscious consumers. 

The deal is McDonald’s first dollar-bond sale since last August’s $2 billion offering. Concurrently, the company has launched a C$1 billion ($733 million) note in Canada.

Bank of America Corp., RBC Capital Markets, Mitsubishi UFJ Financial Group Inc. and U.S. Bancorp managed the US bond sale, the person said. 

--With assistance from Brian Smith, Caleb Mutua and Michael Gambale.

(Updates with deal pricing.)

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