Smithfield wraps change-of-control offer for 6 5/8% senior notes

By Marisa Wong

Madison, Wis., Oct. 15 - Smithfield Foods, Inc. said that holders tendered for purchase $375,000, or 0.04%, of its outstanding 6 5/8% senior notes due 2022 as of 11:59 p.m. ET on Oct. 11, the expiration date of its previously announced change-of-control offer.

The purchase price is 101% of par plus accrued interest up to, but not including, the purchase date. The company said it intends to pay for all tendered notes on Oct. 17.

The company began the offer for any and all of the outstanding 6 5/8% notes on Sept. 16. As previously announced, the change-of-control offer is being made in connection with and conditioned on the proposed acquisition of Smithfield Foods by Hong Kong-based Shuanghui International Holdings Ltd.

The food company is based in Smithfield, Va.

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