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.
The notes being offered have not been registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This notice does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offer of sale would be unlawful and is furnished for information purposes only.