News Release
ConAgra Foods, Inc. Announces Early Tender Results of Its Notes Tender Offer
The principal amount of each series of Notes that were validly tendered
and not validly withdrawn as of
Title of Security |
CUSIP Numbers |
Principal Amount Outstanding |
Tender Cap |
Acceptance Priority
Level |
Principal Amount Tendered | Principal Amount to be Accepted | Early Tender Premium (per $1,000) |
Total Consideration (per $1,000)(1) |
||||||||||||||||
3.20% Senior Notes due 2023 | 205887 BR2 | $1,225,000,000 | $225,000,000 | 1 | $814,449,000 | $225,000,000 | $30.00 | $988.64 | ||||||||||||||||
4.65% Senior Notes due 2043 | 205887 BS0 | $937,000,000 | $200,000,000 | 2 | $588,774,000 | $200,000,000 | $30.00 | $1,018.27 | ||||||||||||||||
7.00% Senior Notes due 2019 | 205887 BF8 | $500,000,000 | $25,000,000 | 3 | $114,798,000 | $24,998,000 | $30.00 | $1,204.52 | ||||||||||||||||
5.819% Senior Notes due 2017 |
205887 BD3 / |
$499,999,000 | $25,000,000 | 4 | $64,352,000 | $24,997,000 | $30.00 | $1,122.83 | ||||||||||||||||
2.10% Senior Notes due 2018 | 205887 BG6 | $250,000,000 | $25,000,000 | 5 | $120,468,000 | $24,997,000 | $30.00 | $1,007.92 |
(1) Inclusive of the Early Tender Premium.
The amounts of each series of Notes that are purchased were determined
in accordance with the acceptance priority levels specified in the table
above and on the cover page of the Offer to Purchase, dated
Because the amount of Notes tendered in each series prior to the Early Tender Date exceeded the applicable Tender Cap, no additional Notes of any series tendered after the Early Tender Date will be accepted for purchase and Notes not accepted, including Notes not accepted because of proration, will be returned promptly.
The Tender Offer is being made upon and is subject to the terms and
conditions set forth in the Offer to Purchase and the related Letter of
Transmittal. The consideration to be paid in the Tender Offer for each
series of Notes validly tendered and accepted for purchase was
calculated in the manner described in the Offer to Purchase by reference
to a fixed spread over the yield to maturity of the applicable U.S.
Treasury Security specified in the Offer to Purchase (the “Total
Consideration”). Holders of the Notes that validly tendered and did not
withdraw their Notes on or prior to the Early Tender Date and whose
Notes are accepted for purchase will receive the applicable Total
Consideration, which includes an early tender premium of
Payments for Notes purchased will include accrued and unpaid interest
from and including the last interest payment date applicable to the
relevant series of Notes up to, but not including, the applicable
settlement date for such Notes accepted for purchase. The settlement
date for Notes that were validly tendered on or prior to the Early
Tender Date and accepted for purchase is expected to be
ConAgra Foods’ obligation to accept for payment and to pay for the Notes
validly tendered in the Tender Offer is subject to the satisfaction or
waiver of a number of general conditions described in the Offer to
Purchase.
This news release shall not constitute an offer to sell, a solicitation to buy or an offer to purchase or sell any securities. The Tender Offer is being made only pursuant to the Offer to Purchase and only in such jurisdictions as is permitted under applicable law.
About
Note on Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements are based on management’s current
expectations and assumptions and are subject to certain risks,
uncertainties and changes in circumstances that could cause actual
results to differ materially from potential results discussed in the
forward-looking statements. These risks and uncertainties include, among
other things: ConAgra Foods’ ability to realize the synergies and
benefits contemplated by the acquisition of
Source:
MEDIA
ConAgra Foods, Inc.
Teresa Paulsen, 402-240-5210
Vice
President,
Communication & External Relations
or
ANALYSTS
ConAgra
Foods, Inc.
Chris Klinefelter, 402-240-4154
Vice President,
Investor Relations
www.conagrafoods.com
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