Tyson Foods holders may convert $458 million 3.25% convertibles in Q3

By Susanna Moon

Chicago, May 6 - Tyson Foods, Inc. holders may convert the company's $458 million of outstanding 3.25% convertible senior notes due 2013 in the third fiscal quarter, according to a 10-Q filing for the quarter ended March 30 with the Securities and Exchange Commission.

The notes are convertible from July 15 through maturity on Oct. 15 because the conversion option was triggered under the issue terms, the filing noted.

The company said it plans to fund the conversion option with cash on hand or cash flow from operations.

Tyson plans to redeem the notes at maturity on Oct. 15 also using cash on hand or cash flows from operations.

Tyson Foods is a Springdale, Ark.-based processor and marketer of chicken, beef and pork.

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