Nestle Purina PetCare Company (formerly known as Ralston Purina Company) today announced that it is offering to purchase for cash up to $919,853,000 of its outstanding debt securities listed below.
The following table sets forth the information for each series of debt securities to which the tender offers apply.
Aggregate Principal U.S. Treasury CUSIP Amount Reference Reference Fixed Number Outstanding Security Security Source* Spread 75127MAF8 $5,000,000 9.76% 5 1/2% due 5/15/09 PX7 0.375% Medium-Term Notes due June 30, 2009 751277AM6 $128,365,000 9 1/4% 6% due 8/15/09 PX7 0.375% Debentures due October 15, 2009 75127MAE1 $6,500,000 9.74% 4 7/8% due 2/15/12 PX7 0.375% Medium-Term Notes due June 11, 2010 751277AU8 $148,390,000 7 3/4% 4 7/8% due 2/15/12 PX7 0.550% Debentures due October 1, 2015 751277AN4 $130,897,000 9.30% 5 3/8% due 2/15/31 PX8 0.600% Debentures due May 1, 2021 751277AQ7 $176,980,000 8 5/8% 5 3/8% due 2/15/31 PX8 0.600% Debentures due February 15, 2022 751277AR5 $147,281,000 8 1/8% 5 3/8% due 2/15/31 PX8 0.600% Debentures due February 1, 2023 751277AS3 $176,440,000 7 7/8% 5 3/8% due 2/15/31 PX8 0.600% Debentures due June 15, 2025 *Refers to the page number of the Bloomberg Government Pricing Monitor.
The tender offers are being made upon the terms and subject to the conditions set forth in the Offer to Purchase dated March 13, 2002. Each tender offer is being made independently of the others.
The consideration for each $1,000 principal amount of debt securities tendered pursuant to the applicable tender offer will be determined in the manner described in the Offer to Purchase by reference to the yield to maturity on the applicable United States Treasury reference security at the time of tender plus the applicable fixed spread, plus any accrued and unpaid interest to but excluding the date of payment.
Settlement of the tender offers will occur on the third New York Stock Exchange trading day following the date of tender of the applicable debt securities.
Each tender offer commences on Wednesday, March 13, 2002, and will expire at 5:00 p.m., New York City time, on Friday, March 22, 2002, unless extended or earlier terminated. Holders of debt securities wishing to tender may do so at any time between the hours of 9:00 a.m. and 5:00 p.m., New York City time, on any New York Stock Exchange trading day during the period in which the tender offers are open.
J.P. Morgan Securities Inc. will serve as the Dealer Manager for the tender offers.
This news release is neither an offer to purchase nor a solicitation of an offer to sell the debt securities of Nestle Purina PetCare Company. The tender offers to purchase debt securities are being made only by the Offer to Purchase. Questions concerning the terms of the tender offers may be directed to J.P. Morgan Securities Inc. at (866) 834-4666. Questions concerning the procedures for tendering debt securities or requests for the Offer to Purchase and related documents may be directed to MacKenzie Partners, Inc. at (800) 322-2885.
Nestle Purina PetCare Company is a premier manufacturer of pet products and part of Swiss-based Nestle S.A. -- the world's largest food company.
SOURCE: Nestle Purina PetCare Company
Contact: Keith M. Schopp, Public Relations of Nestle Purina PetCare