Tyson Foods Prices $600M 5.400% Senior Notes Due 2029 And $900M 5.700% Senior Notes Due 2034
Portfolio Pulse from Benzinga Newsdesk
Tyson Foods has announced the pricing of $600 million 5.400% senior notes due 2029 and $900 million 5.700% senior notes due 2034, with the offerings expected to close on March 8, 2024. The net proceeds are intended for general corporate purposes, including retiring the 3.95% Notes due August 2024 and paying down other outstanding debt.
February 29, 2024 | 8:02 am
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Tyson Foods is issuing $1.5 billion in senior notes to refinance existing debt and for general corporate purposes, including retiring 3.95% Notes due 2024.
The issuance of senior notes by Tyson Foods is a strategic move to manage its debt profile by retiring higher-cost debt and potentially reducing interest expenses over time. This could improve the company's financial flexibility and is generally viewed positively by investors, likely leading to a short-term positive impact on TSN's stock price.
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