ConAgra to sell $750 million in notes

by Eric Schroeder
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OMAHA — ConAgra Foods, Inc. said it will sell $750 million principal amount of senior notes in a public offering with the intended purpose of using the proceeds to buy up to $600 million principal amount of three series of its outstanding senior notes in cash tender offers.

ConAgra said the offers to purchase comprise two separate offers. The first offer will be to buy any and all of the company’s 6.7% senior notes due in 2027 with total consideration for each $1,000 principal amount of notes tendered set at $1,018.75. The offer will expire April 17.

The second offer will be to buy the company’s 7.875% senior notes due in 2010 and 6.75% senior notes due in 2011 with total consideration for each $1,000 principal amount of the notes set at $1,067.50. The offer will expire May 1.

ConAgra said it will use the rest of the proceeds from the notes offerings for general corporate purposes.

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