Tyson Foods plans to repay $250 million of term loan via new notes

By Marisa Wong

Morgantown, W.Va., Sept. 25 – Tyson Foods, Inc. plans to repay amounts outstanding under its term loan facility using proceeds from an offering of senior notes, according to a 424B5 filing with the Securities and Exchange Commission.

The roughly $250 million of the $750 million term loan that is to be repaid was used in part to fund a prior acquisition and for general corporate purposes.

The term loan bore interest at 2.93% as of June 30.

The company also plans to use the new note proceeds for commercial paper obligations and possibly to pay down other outstanding debt or for general corporate purposes.

Tyson Foods is a Springdale, Ark., meat and food production company.

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