ConAgra Foods: To Sell One Billion USD In Senior Notes

Omaha / NE. (caf) ConAgra Foods Inc. said it has agreed to sell one billion USD worth of senior notes in an underwritten public offering and plans to use the proceeds to refinance its debt. The offering will consist of 500 million USD of 5,875 percent senior notes due in April 2014 and 500 million USD of 7,0 percent senior notes due in April 2019. That is more than the 750 million USD worth of notes that the company previously planned to sell. The company said it will buy up to 600 million USD of its outstanding senior notes in cash tender offers. The rest of the proceeds will be used to repay other debt and also may be used for general corporate purposes, such as for contributions to its pension plans. ConAgra expects the offering to close on April 14, subject to customary closing conditions. See also:

• ConAgra Foods Provides Details on Offering Amounts and Pricing in Connection with Tender Offers
• ConAgra Foods Announces Cash Tender Offers for up to 600 Million USD Aggregate Principal Amount of Certain of Its Outstanding Notes in Connection with Debt Refinancing
• ConAgra Foods Announces Proposed 750 Million USD Senior Notes Offering in Connection with Tender Offers