Tyson Foods Secures $1 Billion In Loans To Refinance Debt

Tyson Foods recently secured $1 billion in senior unsecured notes offered to the investment community and rated investment grade — Baa2 by Moody’s or BBB by Standard & Poor’s.

The Springdale-based meat said the proceeds will be used to repay a $750 million term loan due August 2020 as well as other borrowings. The $750 million loan was increased in June from $500 million, which was used to partially fund the acquisition of Tecumseh Poultry for $382 million.

Tyson Foods said it will fund its pending $2.2 billion purchase of Keystone Foods separately. That deal is expected to close in 2019.    MORE

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