Swift & Company Announces Proposed Private Placement of $600 Million of Senior Notes
In connection with the previously announced acquisition of Swift Foods Company by J&F Participacoes S.A. (”J&F”), Swift & Company (”Swift”) announced today that J&F I Finance Co. (”Finance Sub”), a subsidiary of J&F, intends to offer, in a private placement, approximately $600 million aggregate principal amount of notes, consisting of $200 million aggregate principal amount of senior notes due 2015, $200 million aggregate original principal amount of senior toggle notes due 2015 and $200 million aggregate principal amount of senior floating rate notes due 2014 (collectively, the “Notes”).
At the closing of the acquisition, Finance Sub, the issuer of the Notes, will merge with and into Swift, with Swift continuing as the surviving corporation. At the time of the acquisition, Swift will assume the obligations of Finance Sub under the Notes and the related indentures by operation of law.
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