Paul Hastings Advises on a $900 Million High Yield Financing for Shuanghui International Holdings Limiteds Acquisition of Smithfield Foods
New York, NY-- Paul Hastings LLP, a leading global law firm, announced today that the firm represented a newly formed indirect wholly owned subsidiary of Shuanghui International Holdings Limited (“Shuanghui”), the owner of China’s largest publicly-traded meat processing enterprise, in connection with a $900 million private placement offering of senior notes.
The financing consists of one series of 5.250% senior notes due 2018 in an aggregate principal amount of $500 million and one series of 5.875% senior notes due 2021 in an aggregate principal amount of $400 million.
The proceeds of the offering were deposited into an escrow account. Upon release from escrow, it is expected that the net proceeds will be used to partially fund the $7.16 billion proposed acquisition by Shuanghui of Smithfield Foods, Inc. (“Smithfield”), the largest U.S. publicly-traded pork processor and hog producer.
A global team of lawyers from Paul Hastings is advising on all legal issues relating to M&A, employment, finance, global trade and tax in connection with Shaunghai’s proposed acquisition of Smithfield.
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