SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 9, 1998
SMITHFIELD FOODS, INC.
(Exact name of registrant as specified in its charter)
VIRGINIA 0-2258 52-0845861
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
999 WATERSIDE DRIVE
SUITE 900
NORFOLK, VIRGINIA 23510
(Address of principal executive (Zip Code)
offices)
Registrant's telephone number, including area code (757) 365-3000
FORM 8-K FEBRUARY 9, 1998 PAGE 1
<PAGE>
ITEM 5. OTHER EVENTS
Smithfield Foods, Inc. (the "Company") announced on February 9, 1998,
that the Company closed its private offering of $200,000,000 aggregate principal
amount of 7-5/8% Senior Subordinated Notes due 2008 (the "Notes").
Substantially all of the net proceeds from the sale of the Notes will
be used initially to repay indebtedness under the Company's revolving credit
facilities, with the balance to be invested temporarily in short-term marketable
debt securities. Thereafter, the Company expects to use availability under such
facilities, together with internal funds, for additional capital expenditures
and general corporate purposes, including expansion of the Company's processed
meats business, strategic acquisitions, further vertical integration and joint
ventures.
The foregoing is qualified entirely by reference to the Press Release
of the Company issued on February 9, 1998, which is attached hereto as Exhibit
99.1 and is incorporated herein by reference.
FORM 8-K FEBRUARY 9, 1998 PAGE 2
<PAGE>
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits.
Exhibit 99.1 Smithfield Foods, Inc. Press Release issued on
February 9, 1998.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
SMITHFIELD FOODS, INC.
(Registrant)
By: /S/ AARON D. TRUB
----------------------------------
(Signature)
Aaron D. Trub
Vice President, Secretary and
Treasurer
Dated: February 10, 1998
FORM 8-K FEBRUARY 9, 1998 PAGE 3
EXHIBIT 99.1
FOR IMMEDIATE RELEASE Contact: Aaron D. Trub
757-365-3000
SMITHFIELD FOODS ISSUES
$200,000,000 SENIOR SUBORDINATED NOTES
--------------------------------------
NORFOLK, VIRGINIA, February 9, 1998 -- Smithfield Foods, Inc.
(Nasdaq:SFDS) announced today that it had closed its private offering of
$200,000,000 aggregate principal amount of 7-5/8% Senior Subordinated Notes due
2008.
Substantially all of the net proceeds from the sale of the Notes will
be used initially to repay indebtedness under the Company's revolving credit
facilities, with the balance to be invested temporarily in short-term marketable
debt securities. Thereafter, the Company expects to use availability under such
facilities, together with internal funds, for additional capital expenditures
and general corporate purposes, including expansion of the Company's processed
meats business, strategic acquisitions, further vertical integration and joint
ventures.
The offering and sale of the Notes has not been registered under the
Securities Act of 1933, as amended, and the Notes may not be offered or sold in
the United States absent registration or an applicable exemption from
registration requirements.
FORM 8-K FEBRUARY 9, 1998 PAGE 4
