Springdale, AR - Tyson Foods, Inc. announced the issuance on May 1, 1998, of $240 million of 7% Notes due May 1, 2018. The Notes were priced at 98.354% to yield 7.156%. The Notes are rated A3 by Moody's and A-minus by Standard & Poor's Corporation. J.P. Morgan Securities Inc. acted as the lead manager for the transaction with Merrill Lynch & Co. acting as co-manager.
The net proceeds from the offering of the Notes will be used by the Company to repay a portion of the borrowings under its revolving credit and commercial paper facilities. The Notes, which will not be listed on any securities exchange, were offered by the underwriters to the public under the Company's effective shelf registration covering $540 million in debt securities.
Press for Information on Placing Your Ad Here
Meat Industry Insights News Service
P.O. Box 553
Northport, NY 11768
Phone: 631-757-4010
Fax: 631-757-4060
E-mail: sflanagan@sprintmail.com
Return to Home Page