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New Issue-Smithfield Foods sells $625 mln in notes

Thu Jun 25, 2009 6:28pm EDT

Stocks

    
  June 25 (Reuters) - Pork products producer Smithfield
Foods Inc (SFD.N) on Thursday sold $625 million of five-year
senior secured first lien notes in the 144a private placement
market, said IFR, a Thomson Reuters service.
  The size of the deal was increased from an originally
planned $500 million.
  JP Morgan, Barclays, and Morgan Stanley were the joint
bookrunning managers for the sale.
BORROWER: SMITHFIELD FOODS INC
AMT $625 MLN*     COUPON 10.00 PCT    MATURITY 7/15/2014 
TYPE SR SEC NTS   ISS PRICE 96.201    FIRST PAY 1/15/2010
MOODY'S Ba3       YIELD 11.00 PCT     SETTLEMENT 7/2/2009
S&P BB-MINUS      SPREAD 841 BPS      PAY FREQ SEMI-ANNUAL
FITCH N/A          MORE THAN TREAS    MAKE-WHOLE CALL 50 BPS
*$601.25625 MLN PROCEEDS TO ISSUER



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