Tyson Foods to borrow $3.25 billion in four bond offerings

Tyson Foods Inc. agreed to sell $3.25 billion in senior loans to help cover the $8.55 billion acquisition of Hillshire Brands.

The bond offerings include:
$1 billion at 2.65%
$1.25 billion at 3.95%
$500 million at 4.875%
$500 million at 5.15%

The offerings are expected to close on Aug. 8 subject to customary closing conditions.

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Tyson intends to use the proceeds from the offerings, along with cash on hand, Class A common stock and tangible equity units offerings and loans to finance the Hillshire Brands acquisition and to pay related fees and expenses.

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