Smithfield Foods to repay revolver debt with bond sale proceeds

By Sara Rosenberg

New York, May 12 - Smithfield Foods Inc. intends to use proceeds from a $250 million senior unsecured notes offering to repay indebtedness under its U.S. revolver.

Following this debt repayment, the company plans to use the revolver for capital expenditures and general corporate purposes, including expansion of its processed meats business and strategic acquisitions, according to a news release.

Smithfield Foods is a Smithfield, Va. pork processor and hog producer.

CenterPoint to repay bank debt with $400 million convertible

By Ronda Fears

Nashville, May 12 - CenterPoint Energy Inc. plans to repay outstanding borrowings under its $3.8 billion credit facility with proceeds from $400 million of 20-year senior unsecured convertible notes launched Monday.

The Rule 144A convertible offering is set to price after Tuesday's close, via joint lead managers Banc of America Securities, Citigroup and JPMorgan.

This issue is expected to be rated Ba1 by Moody's Investors Service and BBB- by Standard & Poor's Corp.

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