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Sara Lee Corporation Calls Outstanding 6 % Notes Due 2011 for Redemption

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  Published in House and Home on Wednesday, September 8th 2010 at 15:01 GMT by Market Wire
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DOWNERS GROVE, Ill.--([ BUSINESS WIRE ])--Sara Lee Corp. (NYSE: SLE) announced today that it will redeem all of its outstanding 6 % Notes due September 15, 2011 (the a6 % Notesa). The formal notice of redemption is being sent today to holders of the 6 % Notes by The Bank of New York Mellon Trust Company, N.A., the trustee under the indenture governing the 6 % Notes.

The 6 % Notes will be redeemed October 8, 2010 (the aRedemption Datea) at a redemption price to be calculated on the third business day preceding the Redemption Date in accordance with the terms of the 6 % Notes. Interest will cease to accrue on and after the Redemption Date. Sara Lee intends to fund the redemption of the 6 % Notes from the net proceeds from the sale of $400 million aggregate principal amount of its 2.75% Notes due 2015 and $400 million aggregate principal amount of its 4.10% Notes due 2020 which closed September 7, 2010, plus cash on hand and/or the net proceeds of commercial paper issuances.

Questions regarding redemption of the 6 % Notes should be directed to The Bank of New York Mellon Trust Company, N.A., at 101 Barclay Street, New York, New York 10286, attention: Bondholder Communications or at (800) 254-2826.

About Sara Lee Corporation

Each and every day, Sara Lee (NYSE: SLE) delights millions of consumers and customers around the world. The company has one of the worlda™s best-loved and leading portfolios with its innovative and trusted food and beverage brands, including Ball Park, Douwe Egberts, Hillshire Farm, Jimmy Dean, Sara Lee and Senseo. Collectively, our brands generate nearly $11 billion in annual net sales. Sara Lee has approximately 33,000 employees in its continuing operations worldwide. Please visit [ www.saralee.com ] for the latest news and in-depth information about Sara Lee and its brands.