Tyson Foods has agreed to sell $3.25 billion in senior notes with the offerings expected to close on August 8, subject to customary closing conditions. The company intends to use the net proceeds from the offerings, along with cash on hand and borrowings from new term loans, to finance its pending acquisition of Hillshire Brands.

The company is selling $1 billion aggregate principal amount of its 2.650 percent senior notes due 2019 (the "2019 notes"), $1.250 billion aggregate principal amount of its 3.950 percent senior notes due 2024 (the "2024 notes"), $500 million aggregate principal amount of its 4.875 percent senior notes due 2034 (the "2034 notes") and $500 million aggregate principal amount of its 5.150 percent senior notes due 2044 (the "2044 notes") in underwritten public offerings under its effective shelf registration statement.

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Morgan Stanley and J.P. Morgan are acting as lead joint book-running managers for the offerings. HSBC and Mizuho Securities are acting as joint book-running managers for the offerings of 2019 notes and 2034 notes. Rabo Securities and US Bancorp are acting as joint book-running managers for the offerings of 2024 notes and 2044 notes. RBC Capital Markets,Rabo Securities, US Bancorp, Credit Agricole CIB and MUFG are acting as co-managers for the offerings of 2019 notes and 2034 notes. RBC Capital Markets, HSBC, Mizuho Securities, Credit Agricole CIB and MUFG are acting as co-managers for the offerings of 2024 notes and 2044 notes.