010607 Hormel to Offer $350M Of Notes For RepaymentsJune 6, 2001Austin, MN - Hormel Foods Corp. said it plans to offer $350 million of 10- year notes to repay part of the outstanding borrowing that financed acquisition of the Turkey Store Co. in February. The maker of Spam luncheon meat and Dinty Moore beef stew said the offering is expected to close in early June. Hormel bought the outstanding shares in the Turkey Store for $334.4 million in cash and merged the firm into its wholly owned Jennie O-Foods subsidiary. Earlier in May, Hormel said the acquisition was partly responsible for a 7% rise in fiscal second-quarter earnings.
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