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Smithfield Foods Announces Notes Offering

by 5m Editor
10 August 2009, at 7:13am

US - Smithfield Foods has announced a $225 million senior secured notes offering.

Smithfield Foods, Inc. announced on 7 July that it is initiating an offering, subject to market and other conditions, of $225 million of 10 per cent senior secured notes due 2014.

The notes will have identical terms and conditions, other than issue date and issue price, as the $625 million of 10 per cent senior secured notes due 2014 issued by the Company on 2 July 2009.

In a press release, the company said it intends to use the proceeds from the notes offering, together with other available cash, to repay other outstanding indebtedness.