Smithfield Foods (SFD) Announces Prices of $625M Senior Secured Notes At 10%, 96.201% of Face Value
Smithfield Foods, Inc. (NYSE: SFD) announced that it has priced its previously announced offering of senior secured notes due July 2014. The notes will have an interest rate of 10% per annum and will be issued at a price equal to 96.201% of their face value.
Smithfield Foods intends to use the proceeds from the notes offering to repay borrowings and terminate commitments under its existing U.S. revolving credit facility, repay and/or refinance other indebtedness and for other general corporate purposes.
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