Land O'Lakes plans redemption of $323.7 million in 8¾% notes, 9% notes

By Devika Patel

Knoxville, Tenn., Oct. 29 - Land O'Lakes Inc. reported it plans to redeem two series of notes at par on Dec. 15.

In an 8-K filed Thursday with the Securities and Exchange Commission, the company said that it will redeem its $350 million in 8¾% senior unsecured notes due 2011 and its $175 million in 9% senior secured notes due 2010.

As of Oct. 29, there is $174 million of the 8¾% notes and $149.7 million of the 9% notes outstanding.

Land O'Lakes is an Arden Hills, Minn.-based food and agricultural cooperative.

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