Swift announces pricing for tender offer

by FoodBusinessNews.net Staff
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GREELEY, COLO. — Swift Foods Co. has announced pricing for its cash tender offer to purchase outstanding 10.25% convertible senior subordinated notes due 2010.

The consideration to be paid for tendered and accepted convertible notes is based on the present value of the redemption prices of convertible notes on March 12, 2009, and all scheduled payments of interest through that date. This uses a discount rated based on the yield to maturity of 4.75% U.S. Treasury Note due Feb. 28, 2009, and calculated based on the bid price for the reference note as of June 20 and as displayed on the quotation report in the Bloomberg Financial Markets, plus accrued and unpaid interest. .

The total consideration for each $1,000 principal amount of convertible notes validly tendered and not withdrawn prior to the offer expiration date of July 5 is $1,131.37.

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