Smithfield Foods tenders for up to $337 million of 7% notes due 2011

By Jennifer Chiou

New York, Nov. 2 - Smithfield Foods, Inc. announced the start of cash tender offer for up to $337 million of its $396,174,000 of 7% senior unsecured notes due 2011.

For each $1,000 principal amount, the company will pay $1,043.93, including an early tender payment of $30.00 for those who tender prior to 5 p.m. ET on Nov. 16.

The offer is set to end at midnight ET on Dec. 1.

Smithfield said it will also pay accrued interest to the payment date.

There is no minimum tender condition.

Goldman Sachs & Co. is the dealer manager (800 828-3182 or call collect 212 902-5128). Global Bondholder Services Corp. is the depositary and information agent (866 807-2200).

Smithfield Foods is a pork processor and hog producer based in Smithfield, Va.

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