The petcare operations of Swiss food behemoth Nestlé, Nestle Purina PetCare Company (formerly known as Ralston Purina Company), has announced that it is offering to purchase for cash up to US$919,853,000 of its outstanding debt securities.
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The St. Louis company has released the following table, which sets forth the information for each series of debt securities to which the tender offers apply.
Aggregate
Principal U.S. Treasury
CUSIP Amount Reference Reference Fixed
Number Outstanding Security Security Source* Spread
75127MAF8 $5,000,000 9.76% 5 1/2% due 5/15/09 PX7 0.375%
Medium-Term
Notes due
June 30, 2009
751277AM6 $128,365,000 9 1/4% 6% due 8/15/09 PX7 0.375%
Debentures due
October 15, 2009
75127MAE1 $6,500,000 9.74% 4 7/8% due 2/15/12 PX7 0.375%
Medium-Term
Notes due
June 11, 2010
751277AU8 $148,390,000 7 3/4% 4 7/8% due 2/15/12 PX7 0.550%
Debentures due
October 1, 2015
751277AN4 $130,897,000 9.30% 5 3/8% due 2/15/31 PX8 0.600%
Debentures due
May 1, 2021
751277AQ7 $176,980,000 8 5/8% 5 3/8% due 2/15/31 PX8 0.600%
Debentures due
February 15, 2022
751277AR5 $147,281,000 8 1/8% 5 3/8% due 2/15/31 PX8 0.600%
Debentures due
February 1, 2023
751277AS3 $176,440,000 7 7/8% 5 3/8% due 2/15/31 PX8 0.600%
Debentures due
June 15, 2025
*Refers to the page number of the Bloomberg Government Pricing Monitor.
The tender offers are being made upon the terms and subject to the conditions set forth in the offer to purchase dated 13 March 2002. Each tender offer is being made independently of the others.
The consideration for each US$1,000 principal amount of debt securities tendered pursuant to the applicable tender offer will be determined in the manner described in the offer to purchase by reference to the yield to maturity on the applicable US Treasury reference security at the time of tender plus the applicable fixed spread, plus any accrued and unpaid interest to but excluding the date of payment.
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By GlobalDataSettlement of the tender offers will occur on the third New York Stock Exchange (NYSE) trading day following the date of tender of the applicable debt securities.
Each tender offer began yesterday [Wednesday], and will expire at 5:00pm, New York City time, on 22 March 2002, unless extended or earlier terminated. Holders of debt securities wishing to tender may do so at any time between the hours of 9:00 a.m. and 5:00 p.m., New York City time, on any NYSE trading day during the period in which the tender offers are open.
J.P. Morgan Securities Inc. will serve as the dealer manager for the tender offers.
