Tyson Foods Inc. (NYSE: TSN) has completed a cash tender offer to purchase up to $1.2 billion in senior notes, reaching the maximum cap by the early tender deadline of August 21.
The tender offer covered three series of senior notes, with a total of $1.2 billion in principal amount purchased. The company repurchased $571.26 million of its 3.550% senior notes due 2027 at a total consideration of $994.87 per $1,000 principal amount, including an early tender premium of $30 per $1,000.
Additionally, Tyson acquired $389.97 million of its 5.400% senior notes due 2029 at $1,019.77 per $1,000 principal amount, eliminating a previously announced sub-cap for this series. The company also purchased $235.34 million of its 4.350% senior notes due 2029 at $994.24 per $1,000 principal amount, subject to a 43.48% proration factor.
All notes accepted for purchase will be retired and canceled, removing them as outstanding obligations of the company. The settlement date is set for August 26, with payments including accrued and unpaid interest up to, but not including, the settlement date. Notes tendered after the early deadline will not be accepted.
Dealer managers for the tender offer included BofA Securities Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, and Rabo Securities USA Inc. D.F. King & Co. Inc. served as information and tender agent. The tender offer expires at 5:00 p.m. New York time on September 8, 2026.
