Hormel Foods has raised $250 million through a sale of notes, Reuters reports. The notes, which carry a coupon rate of 4.125%, are scheduled to mature on April 15, 2021. The luncheon meat producer intends to use the net proceeds for paying the $350 million of notes, maturing in June 2011, adds Toronto Star. The joint bookrunning managers on the sale were Bank of America Merrill Lynch, JP Morgan and Wells Fargo Securities.

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