Source:  Rita Jane Gabbett, MEATINGPLACE.COM, 2/11/11

Smithfield Foods Inc. said today it expired its previously announced offer to buy the maximum aggregate principal amount of the company’s 7.75 percent senior unsecured notes due 2013 and 10 percent senior secured notes due 2014 that it can buy for $450 million.

The world’s largest pork producer said it accepted $390.9 million aggregate principal amount of notes for purchase in the tender offer.

The aggregate consideration for notes accepted in the offer, including accrued interest, was about $455.9 million. Smithfield expects the premium paid in the purchase of the notes, between $71 million to $73 million, will be charged to earnings in the company’s fiscal fourth quarter.

Goldman, Sachs & Co. acted as the dealer manager, and Global Bondholder Services Corp. was the information agent and depository for the offer.

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