Tyson Foods’ $2.8 Billion Senior Notes Offerings

Davis Polk advised Tyson Foods, Inc. in connection with its SEC-registered offerings of $2.8 billion aggregate principal amount of senior notes in three series, consisting of $800 million aggregate principal amount of 4.000% senior notes due 2026, $1 billion aggregate principal amount of 4.350% senior notes due 2029 and $1 billion aggregate principal amount of 5.100% senior notes due 2048.

The 2048 notes are a reopening of the $500 million aggregate principal amount of 5.100% senior notes due 2048 issued on September 28, 2018. The net proceeds from the offerings were approximately $2.76 billion, which Tyson Foods intends to use for repayment of amounts outstanding under its term loan and for general corporate purposes.

Tyson Foods, with headquarters in Springdale, Arkansas, is one of the world’s largest food companies and a recognized leader in protein with brands such as Tyson, Jimmy Dean, Hillshire Farm, Ball Park, Wright, Aidells, ibp and State Fair.

The Davis Polk capital markets team included partners Richard D. Truesdell Jr. (Picture) and Derek Dostal and associate Angela Park. The credit team included partner Joseph P. Hadley and associate Yitz Segal. The tax team included partners Neil Barr and William A. Curran and associate Anne E. McGinnis. Counsel Betty Moy Huber and associate Michael Comstock provided environmental advice.

Involved fees earner: Neil Barr – Davis Polk & Wardwell; Michael Comstock – Davis Polk & Wardwell; William Curran – Davis Polk & Wardwell; Derek Dostal – Davis Polk & Wardwell; Joseph P. Hadley – Davis Polk & Wardwell; Betty Moy Huber – Davis Polk & Wardwell; Anne McGinnis – Davis Polk & Wardwell; Angela Park – Davis Polk & Wardwell; Yitz Segal – Davis Polk & Wardwell; Richard Truesdell Jr. – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Tyson Foods, Inc.;


Author: Ambrogio Visconti