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Pinnacle Foods completes debt refinancing

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Pinnacle Foods Inc. announced Monday its indirect, wholly owned subsidiary, Pinnacle Foods Finance LLC, has completed its previously announced debt refinancing in a transaction that will lower its annual interest expense and improve its debt maturity profile.

The news comes on the heels of the Parsippany company’s initial public offering last month.

According to the announcement, the refinancing was comprised of a new senior secured credit facility, consisting of a $1.63 million term loan due 2020 and a $150 million revolving credit facility due 2018, as well as $350 million aggregate principal amount of 4.875 percent senior unsecured notes due 2021.

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