USA: Hormel Foods to offer $350 million of ten-year notes
Hormel Foods Corporation (NYSE: HRL) announced today that it is proposing to conduct, subject to market conditions, a $350 million offering of intermediate-term notes to repay a portion of outstanding borrowings under its credit facility originally borrowed to finance the acquisition of The Turkey Store Company in February 2001. The offering is anticipated to close in early June 2001. The offering is being made only to qualified institutional buyers in the United States pursuant to Rule 144A under the Securities Act of 1933 and to certain persons in offshore transactions in reliance on Regulation S under the Securities Act.
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