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and animal feed industries.
Poultry Processing & Slaughter
on October 17, 2014

Simmons Foods completes cash tender offer

Poultry and petfood company completes offer for its outstanding 10.5 percent second lien senior secured notes

Simmons, one of the leading vertically integrated poultry processors and the largest private label wet petfood producer in the United States and Canada, has completed its previously announced cash tender offer and consent solicitation for all of its $315 million aggregate principal amount of outstanding 10.50 percent second lien senior secured notes due 2017. The tender offer expired at 11:59 p.m., Eastern Time, on October 15.

On October 1, 2014, Simmons accepted for purchase and payment $263,022,000 of the notes that were validly tendered and not withdrawn at or prior to 5 p.m., Eastern Time, on September 30, representing 83.5 percent of the outstanding principal amount of the notes.  No additional outstanding notes were tendered in the tender offer other than the notes repurchased on October 1, 2014.

On October 1, Simmons irrevocably called for redemption up to the $51,978,000 principal amount of notes that remain outstanding and discharged all obligations under the notes and the indenture governing the notes by depositing with the trustee under the indenture governing the notes an amount of funds sufficient to pay the redemption price for such notes, plus accrued and unpaid interest to, but not including, the date of redemption, which is November 1.

Wells Fargo Securities acted as dealer manager and solicitation agent for the tender offer and the consent solicitation, and D.F. King & Co. acted as tender agent and information agent for the tender offer and consent solicitation.

Based in Siloam Springs, Arkansas, Simmons is the parent company to Simmons Foods, Simmons Prepared Foods, Simmons Pet Food, Simmons Feed Ingredients, Simmons Custom Processing, Simmons Energy Solutions, and ProCal.

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