Smithfield Foods refinances $1.03 billion revolver

By Angela McDaniels

Tacoma, Wash., April 2 – Smithfield Foods, Inc. entered into a new revolving credit facility totaling $1,025,000,000 with Rabobank Nederland, New York Branch, as administrative agent, according to a company news release.

The new revolver replaces the company’s previous $1,025,000,000 revolver and includes an option, subject to certain conditions, to increase available commitments to $1.3 billion in the future.

The new revolver matures in May 2020.

“The refinancing of our core working capital facility will further improve our cost of debt while ensuring ample liquidity,” C. Larry Pope, president and chief executive officer, said in the news release.

Smithfield, Va.-based Smithfield Foods is a food company and a wholly owned subsidiary of WH Group Ltd.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.