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Smithfield Makes Announcement to Senior Note-holders

17 September 2013

US - Smithfield Foods has announced a notice of Change of Control and offer to purchase its 6.625 per cent senior notes due in 2022.

Smithfield Foods, Inc. has announced that it will notify holders of its 6.625 per cent senior notes due 2022 that a 'Change of Control', as defined in the indenture governing the Notes, is expected to occur upon the consummation of the proposed and previously announced acquisition of the Company by Shuanghui International Holdings Limited.

Pursuant to the terms of the Notes, following the consummation of the Acquisition, holders of the Notes will have the right to require the Company to purchase all or a portion of such holders' Notes at a price of 101 per cent of the principal amount thereof, plus any accrued and unpaid interest up to, but not including, the date of purchase. On 16 September, the Company commenced the offer to purchase the Notes for the Purchase Price in contemplation of, and conditioned on, the consummation of the Acquisition.

The Notice and the terms and conditions of the Offer are included in the Notice of Change of Control and Offer to Purchase dated 16 September 2013 and related Letter of Transmittal to be distributed to holders of the Notes.

The Offer will expire at 11:59p.m., New York City time, on 11 October 2013, unless extended (such time and date, as the same may be extended, the "Expiration Date"). Holders must validly tender their Notes at or prior to the Expiration Date to be eligible to receive the Purchase Price.

ThePigSite News Desk

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