Sara Lee Corporation Calls Outstanding 6 ¼% Notes Due 2011 for Redemption

 
TIDMSRL 
 

  Sara Lee Corp. (NYSE: SLE) announced today that it will redeem all of its outstanding 6 ¼% Notes due September 15, 2011 (the "6 ¼% Notes"). The formal notice of redemption is being sent today to holders of the 6 ¼% Notes by The Bank of New York Mellon Trust Company, N.A., the trustee under the indenture governing the 6 ¼% Notes. 
 

  The 6 ¼% Notes will be redeemed October 8, 2010 (the "Redemption Date") at a redemption price to be calculated on the third business day preceding the Redemption Date in accordance with the terms of the 6 ¼% Notes. Interest will cease to accrue on and after the Redemption Date. Sara Lee intends to fund the redemption of the 6 ¼% 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 ¼% 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 [phone]. 
 

  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 world'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. 
 

  Media:Mike Cummins, +1.630.598.8412Analysts:Aaron Hoffman, +1.630.598.8739