PARSIPPANY, N.J. — Pinnacle Foods Finance L.L.C., a subsidiary of Pinnacle Foods, Inc., has completed its debt refinancing.

“The refinancing we just completed builds on the success of our recent I.P.O. and the refinancing actions we took last year,” said Craig Steeneck, executive vice-president and chief financial officer. “These transactions, taken together, will dramatically lower our annual interest expense and greatly improve our debt maturity profile. We are pleased with the ongoing support from our banking partners and debt holders, and we believe the enhanced financial flexibility and improvement in our already-strong free cash flow that these transactions have enabled will serve us well for the future.”

The refinancing included a $1,630 million term loan due 2020, a $150 million revolving credit facility due 2018 and a $350 million aggregate principal amount of 4.875% senior unsecured notes due 2021. The company plans to use the proceeds from the new term loan and senior unsecured notes to repay its existing term loan and complete the planned redemption on May 10, 2013, of all $400 million outstanding principal amount of its 8.25% senior unsecured notes due 2017 as well as to pay for all fees relate to the refinancing.

The company said its annual interest expense savings from the refinancing will be about $30 million, and one-time fees and expenses associated with the transaction will be about $52 million.