Smithfield Foods, Inc. (SFD: Quote) Wednesday said it has initiated an underwritten public offering of $650 million aggregate principal amount of senior notes, due 2022. The offering is subject to market and other conditions.
The company intends to use the net proceeds of this offering to finance a tender offer to repurchase all of its outstanding 10 percent senior secured notes due 2014, and 7.75 percent senior notes due 2013, together with available cash and other borrowings.
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by RTT Staff Writer
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