Paul Hastings Advises Smithfield Foods on $1.4 Billion Senior Notes Offering

February 01, 2017

New York – Paul Hastings LLP, a leading global law firm, announced today that the Firm advised Smithfield Foods, Inc. in connection with a $1.4 Billion Senior Notes Offering and a previously announced intention to refinance certain existing credit facilities as part of a wider refinancing plan. Smithfield, together with its parent and affiliates, is the world’s largest hog production and pork processing company with operations in 23 U.S. states and 5 countries.

The Senior Notes Offering consists of $400 million aggregate principal amount of 2.700% senior notes due 2020, $400 million aggregate principal amount of 3.350% senior notes due 2022 and $600 million aggregate principal amount of 4.250% senior notes due 2027. Smithfield used a portion of the net proceeds of the senior notes offering to finance the repurchase of all of its outstanding existing 2017 notes pursuant to a tender offer, and to redeem its existing 2018, 2021 and 2022 notes.

The transactions were led by partners Raymond Li, Vivian Lam and Mario Ippolito. The Paul Hastings team also included associates Christopher Ross, Kareem Roe, Laura Bertilotti and Soufi Mirfakhraei.

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