Smithfield Foods (SFD) Secures New Credit Line, Completes $625 Million Senior Secured Notes Offering and Replaces Term Loan

July 2, 2009 2:30 PM EDT

Smithfield Foods, Inc. (NYSE: SFD) announced that it has entered into a new $1 billion asset-based revolving credit facility with JPMorgan Chase Bank, N.A., as administrative agent. The new credit facility replaces the Company's previous U.S. revolving credit facility and it includes an option, subject to certain conditions, to increase available commitments to $1.3 billion in the future. The new credit facility is scheduled to mature, and the commitments thereunder will terminate, on July 2, 2012.


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