Simmons Foods to pay down credit facility debt with notes proceeds

By Sara Rosenberg

New York, July 10 – Simmons Foods Inc. plans on paying down borrowings under its existing senior secured credit facility using a portion of the proceeds from a $250 million senior secured notes offering, according to a market source.

Remaining proceeds from the notes offering will be used for general corporate purposes, including future capital expenditures and/or acquisitions, and to pay related fees and expenses.

Simmons Foods is a Siloam Springs, Ark.-based poultry processor and pet food producer.

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