Search the web
Welcome, Guest
[Sign Out, My Account]

Quotes & Info
Enter Symbol(s):
e.g. YHOO, ^DJI
Symbol Lookup | Financial Search
PF > SEC Filings for PF > Form 8-K on 17-Apr-2013All Recent SEC Filings

Show all filings for PINNACLE FOODS INC. | Request a Trial to NEW EDGAR Online Pro



Other Events

Item 8.01 Other Events

In connection with its previously-announced refinancing, Pinnacle Foods Inc. (NYSE: PF) announced that its indirect wholly-owned subsidiary, Pinnacle Foods Finance LLC ("Pinnacle Foods"), completed the pricing for its previously-announced refinancing of its senior secured credit facilities. The refinancing consists of senior secured credit facilities totaling $1,780 million, comprised of a senior secured term loan facility in an aggregate principal amount of $1,630 million due 2020 (the "term loan facility") and a revolving credit facility of $150 million due 2018 (the "revolving credit facility"). Borrowings under the term loan facility will bear interest at the option of Pinnacle Foods at a rate of either (i) LIBOR (subject to a floor of 0.75%) plus an applicable margin of 2.50% or (ii) a base rate (subject to a floor of 1.75%) plus an applicable margin of 1.50%. In addition, upon achieving total net leverage of 4.25x or below, the interest rate on the term loan facility will be reduced by 0.25%, provided that the interest rate step-down shall not apply in the first six months after the issuance of the term loan. Borrowings under the revolving credit facility will bear interest, at the option of Pinnacle Foods, at a rate of either (i) LIBOR plus an applicable margin of 2.50% or (ii) a base rate plus an applicable margin of 1.50%, in each case subject to a similar leverage-based interest rate step-down as the term loan facility.
In addition, as previously disclosed, Pinnacle Foods also priced $350 million aggregate principal amount of senior unsecured debt due 2021 at 4.875% as part of the refinancing.
Pinnacle Foods intends to use the proceeds from the refinancing to repay its existing senior secured term loan debt currently totaling approximately $1,515 million aggregate principal amount, to redeem all $400 million aggregate principal amount of its 8.25% Senior Notes due 2017 and to pay related premiums, fees and expenses. The obligation of Pinnacle Foods to repay its existing indebtedness is conditioned upon the consummation of the refinancing. The refinancing, which is expected to close on or about April 29, 2013, is subject to market and other customary conditions and there can be no assurance that the refinancing will occur on the terms described or at all.
A copy of the press release is attached hereto as Exhibit 99.1 and incorporated by reference herein.
Item 9.01 Financial Statements and Exhibits.

(d) Exhibits. See the Exhibit Index immediately following the signature page hereto, which is incorporated herein by reference.

  Add PF to Portfolio     Set Alert         Email to a Friend  
Get SEC Filings for Another Symbol: Symbol Lookup
Quotes & Info for PF - All Recent SEC Filings
Sign Up for a Free Trial to the NEW EDGAR Online Pro
Detailed SEC, Financial, Ownership and Offering Data on over 12,000 U.S. Public Companies.
Actionable and easy-to-use with searching, alerting, downloading and more.
Request a Trial      Sign Up Now

Copyright © 2014 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service
SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein.