Tyson Foods Inc. has agreed to sell $1 billion aggregate principal amount of 4.5% Senior Notes due 2022 in an underwritten public offering under its effective shelf registration statement.

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The offering is expected to close on or about June 13, subject to customary closing conditions. Tyson intends to use the net proceeds from the offering to fund the repurchase of any and all of its outstanding 10.5% Senior Notes due 2014 in a contemplated tender offer and/or redemption, and for general corporate purposes. Merrill Lynch, Pierce, Fenner & Smith Incorporated, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, RBC Capital Markets, LLC, Barclays Capital Inc. and Rabo Securities USA, Inc. are acting as joint book-running managers for the offering, and Goldman, Sachs & Co., HSBC Securities (USA) Inc., SunTrust Robinson Humphrey Inc., U.S. Bancorp Investments Inc. and Wells Fargo Securities LLC are acting as co-managers for the offering.