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Tyson Foods Offers New Senior Notes

08 August 2014

US - Tyson Foods has announced offerings of senior notes with the view to its acquisition of Hillshire Brands.

Tyson Foods, Inc. has announced that it has commenced underwritten public offerings of senior notes under its effective shelf registration statement.

At the same time, Tyson Foods, Inc. agreed to sell $1,000 million aggregate principal amount of its 2.650 per cent senior notes due 2019 (the '2019 notes'), $1,250 million aggregate principal amount of its 3.950 per cent senior notes due 2024 (the '2024 notes'), $500 million aggregate principal amount of its 4.875 per cent senior notes due 2034 (the '2034 notes') and $500 million aggregate principal amount of its 5.150 per cent senior notes due 2044 (the '2044 notes') in underwritten public offerings under its effective shelf registration statement. The offerings are expected to close on 8 August 2014, subject to customary closing conditions.

The company intends to use the net proceeds from both the offerings, together with cash on hand, the recently announced Class A common stock and tangible equity units offerings, each expected to be completed on 5 August 2014, and from borrowings under new term loans, to finance the previously announced acquisition of The Hillshire Brands Company and to pay related fees and expenses.

Morgan Stanley and J.P. Morgan are acting as lead joint book-running managers for the offerings.

For further details, visit Tyson Foods' investor relations web site, http://ir.tyson.com/investor-relations/news-releases/.

TheCattleSite News Desk



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