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Pinnacle aims to refinance existing debt

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Pinnacle Foods Inc., of Parsippany, announced Wednesday its indirect wholly owned subsidiary, Pinnacle Foods Finance LLC, intends to launch a refinancing of existing indebtedness outstanding under its senior secured credit facilities and its 8.25% senior unsecured notes due 2017.

In a release, Pinnacle Foods said the proposed refinancing is expected to reduce its annual interest expense and improve its debt maturity profile.

In connection with the proposed refinancing, Pinnacle Foods intends to redeem all $400 million outstanding principal amount of the notes on May 10.

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