Filed by Tyson Foods, Inc.
Pursuant to Rule 425 under the
Securities Act of 1933
and deemed filed pursuant to Rule 14a-12(b)
under
the Securities Act of 1934
Subject Company: IBP, inc.
Commission File
No. 1-6085
September 28, 2001
Media
Contact: Ed
Nicholson
(501)
290-4591
Investor
Contact: Louis
Gottsponer
(501)
290-4826
TYSON FOODS, INC.
SELLS $2.25 BILLION OF SENIOR
NOTES
SPRINGDALE, Ark., September 27, 2001 -- Tyson Foods, Inc. (NYSE: TSN)
today announced that it has agreed to sell in a private placement $2.25 billion
of its Senior Notes under Tyson's existing indenture. The Senior Notes will be
sold in three tranches: $500 million of 6 5/8% three-year notes, due October 1,
2004, $750 million of 7 1/4% five-year notes, due October 1, 2006 and $1 billion
of 8 1/4% notes, due October 1 2011. The net proceeds of the offering will be
used to repay in part borrowings outstanding under Tyson's senior unsecured
bridge credit agreements providing for aggregate borrowings of up to $2.85
billion.
The Notes will be offered only to qualified institutional buyers
under Rule 144A and to persons outside the United States under Regulation S. The
Notes have not been registered under the Securities Act of 1933 or the
securities laws of any other place, and, unless so registered, may not be
offered or sold in the United States except pursuant to an exemption from, or in
a transaction not subject to, the registration requirements of the Securities
Act and applicable state securities laws.
This press release shall not
constitute an offer to sell or the solicitation of an offer to buy, nor shall
there be any sale of the Notes in any state in which such offer, solicitation or
sale would be unlawful prior to the registration or qualification under the
securities laws of any such state.