SECURITIES AND EXCHANGE COMMISSION

Washington, D. C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15 (d) of
the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported) October 20, 2003

 

 

HORMEL FOODS CORPORATION

(Exact name of registrant as specified in its charter)

 

DELAWARE

(State or other jurisdiction of incorporation)

 

1-2402

 

41-0319970

(Commission File Number)

 

(IRS Employer Identification Number)

 

 

 

1 Hormel Place, Austin, Minnesota

 

55912

(Address of principal executive offices)

 

(Zip Code)

 

 

Registrant’s telephone number, including area code: (507) 437-5611

 

 

 

Item 5.  OTHER EVENTS

 

 

On October 20, 2003, Hormel Foods Corporation entered into an unsecured 3-year revolving credit facility in the amount of $150,000,000, which replaces an existing $150,000,000 credit facility entered into on October 25, 2001.  The credit facility will be used for commercial paper backup and general corporate purposes excluding financing for any acquisition not approved by the board of directors of the target company.

 

Citicorp USA, Inc. is the administrative agent for the facility.  The lenders receive a fee for the availability of the facility.  Interest on funds borrowed under the facility will be charged at one of two variable rate formulas, to be selected by the Company.

 

A copy of the credit facility is included as Exhibit 10.1 hereto.

 

 

Item 7.  FINANCIAL STATEMENTS AND EXHIBITS

 

(c) Exhibits

 

 

10.1

U.S. $150,000,000 Credit Agreement, dated as of October 20, 2003, between the Company, the banks identified on the signature pages thereof, and Citicorp USA, Inc., as Administrative Agent

 

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SIGNATURES

 

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned thereunto duly authorized.

 

 

 

HORMEL FOODS CORPORATION

 

(Registrant)

 

 

 

 

Dated:

October 23, 2003

 

By

/s/ M. J. McCoy

 

 

 

M. J. McCOY

 

 

Executive Vice President
And Chief Financial Officer

 

 

 

 

Dated:

October 23, 2003

 

By

/s/ J. N. Sheehan

 

 

 

J. N. SHEEHAN

 

 

Vice President and Controller

 

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LIST OF EXHIBITS

 

NUMBER

 

DESCRIPTION OF DOCUMENT

 

 

 

10.1

 

U.S. $150,000,000 Credit Agreement, dated as of October 20, 2003, between the Company, the banks identified on the signature pages thereof, and Citicorp USA, Inc., as Administrative Agent

 

 

Exhibit transmitted via EDGAR

 

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