DALLAS, Feb. 20, 2015 /PRNewswire/ -- Dean Foods
Company (NYSE: DF) ("Dean Foods" or the "Company") announced today
that it has priced its previously announced offering of
$700 million in aggregate principal
amount of 6.5% senior unsecured notes due 2023 (the "notes") at an
issue price of 100% of the principal amount of the notes. The
issuance of the notes is expected to close on February 25, 2015.
The Company intends to use a portion of the net proceeds of the
offering to finance the redemption of its outstanding senior
unsecured notes due 2016. The Company intends to use the remaining
net proceeds to repay a portion of the outstanding borrowings under
the Company's senior secured credit facility and receivables-backed
facility.
The notes are being offered to "qualified institutional buyers"
as defined in Rule 144A under the Securities Act of 1933, as
amended (the "Securities Act"), and in offshore transactions
pursuant to Regulation S under the Securities Act. The notes have
not been registered under the Securities Act or any state
securities laws, and unless so registered, the notes 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 is being issued pursuant to Rule 135c under
the Securities Act, and is neither an offer to sell nor a
solicitation of an offer to buy the notes or any other securities
and shall not constitute an offer to sell or a solicitation of an
offer to buy, or a sale of, the notes or any other securities in
any jurisdiction in which such offer, solicitation or sale is
unlawful.
ABOUT DEAN FOODS
Dean Foods® is a leading food and beverage company and the
largest processor and direct-to-store distributor of fluid milk and
other dairy and dairy case products in the United States. Headquartered in
Dallas, Texas, the Dean Foods
portfolio includes TruMoo®, the leading national flavored milk
brand, along with well-known regional dairy brands such as Alta
Dena®, Berkeley Farms®, Country Fresh®, Dean's®, Garelick Farms®,
LAND O LAKES® milk and cultured products*, Lehigh Valley Dairy
Farms®, Mayfield®, McArthur®, Meadow Gold®, Oak Farms®,
PET®**, T.G. Lee®, Tuscan® and more. In all, Dean Foods has more
than 50 local and regional dairy brands and private labels. Dean
Foods also makes and distributes ice cream, cultured products,
juices, teas, and bottled water. Over 17,000 employees across the
country work every day to make Dean Foods the most admired and
trusted provider of wholesome, great-tasting dairy products at
every occasion. For more information about Dean Foods and its
brands, visit www.deanfoods.com.
Forward-Looking Statements
Some of the statements in this press release are
"forward-looking" and are made pursuant to the safe harbor
provision of the Private Securities Litigation Reform Act of 1995,
including statements relating to the offering of the notes and the
use of proceeds therefrom. These statements involve risks and
uncertainties that may cause results to differ materially from the
statements set forth in this press release, including risks and
uncertainties referenced from time to time in the Company's filings
with the Securities and Exchange Commission. All forward-looking
statements in this press release speak only as of the date of this
press release. The Company expressly disclaims any obligation or
undertaking to release publicly any updates or revisions to any
such statements to reflect any change in its expectations with
regard thereto or any changes in the events, conditions or
circumstances on which any such statement is based, except as
required by law.
*The LAND O LAKES brand is owned by Land O'Lakes, Inc. and is
used by license.
**PET is a trademark of The J.M. Smucker Company and is used by
license.
CONTACT: Corporate Communications, Jamaison Schuler, +1 214-721-7766; or Investor
Relations, Scott Vopni,
+1-214-303-3438
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SOURCE Dean Foods Company