Tyson Foods Inc. secured more than $1.7 billion in liquidity as a result of capital restructuring through March this year, according to a news report.
Tyson began capital restructuring in September by issuing 22.4 million class A common shares and $458 million in senior convertible notes. The company completed an $810 million high-yield bond offering in March and replaced its revolving credit facility with a $1 billion asset-based lending facility.
Tyson says it made improvements in its food segments, especially chicken, by better operational efficiencies, sales volume, product mix and shorter-term contracts with customers.
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