ConAgra Foods enters into new $1.5 billion revolving credit facility

By Aleesia Forni

Columbus, Ohio, Sept. 15 - ConAgra Foods Inc. entered into a new $1.5 billion revolving credit facility, according to an 8-K filed with the Securities and Exchange Commission on Wednesday.

Pricing on the revolver ranges from Libor plus 90 basis points to 150 bps, based on the company's credit rating.

Facility fees on the revolver range from 10 bps to 25 bps.

This unsecured facility has a maturity date of Sept. 14, 2016 and contains a $500 million accordion feature.

This facility replaces an existing $1.5 billion revolving credit facility with a maturity date of Dec. 16, 2011.

JPMorgan Chase Bank NA is administrative agent.

J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Inc. are joint lead arrangers and joint bookrunners.

Bank of America NA is syndication agent.

BNP Paribas, Wells Fargo Bank NA and Royal Bank of Scotland plc and Bank of Tokyo-Mitsubishi UFJ Ltd. are co-documentation agents.

ConAgra Foods is an Omaha-based food products, agriculture and feed company.

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