How do firms write their debt contracts to mitigate the agency cost of debt? Take a look at a TSN bond with the ID 902494BJ1. SAFM doesn't have any current outstanding bonds, but TSN does. This bond comes due in March 2026. What does the prospectus/indenture for this bond say about this issue? What do these say that they are doing with the proceeds?

Tyson Foods, Inc. 4.000% 01 Mar '26 109.741 Corporate Bond/Note Security Information Issuer & Industry i Cusip ISIN SEDOL Primary Exchange ID Underwriters Country of Domicile Country of Risk 902494BJ1 US9024948316 BGKDOJE TSN4798432-OTC Multiple United States United States Immediate Issuer Credit Parent Ultimate Parent FactSet Industry SIC Sector NAICS Sector Tyson Foods, Inc. Tyson Foods, Inc. Tyson Foods, Inc. Class A (TSN-US) Food: Meat/Fish/Dairy Meat Packing Plants Animal (except Poultry) Slaughtering MOODY'S RATING S&P RATING Disclaimer BBB+ DITIIIIIIIIIAAA Security Details Coupon Details i Issue Status Offering Date Issue Date Maturity Date Security Type Seniority Level Issue Currency Pricing Sources Related issues Issue Prospectus & Other Documents Financial Covenants Negative Covenants Current 13-Feb-2019 19-Feb-2019 01-Mar-2026 Corporate Bond/Note Senior Unsecured U.S. Dollar Multiple Coupon(%) Coupon Type Payment Frequency Day Count Basis Dated Date First Coupon Date Next Coupon Date Last Coupon Date* 4.000 Fixed Semi-Annual 30/360 19-Feb-2019 01-Sep-2019 01-Mar-2022 02-Sep-2025 * Last Coupon Date refers to the last interest payment date prior to maturity. Price & Derived Values i No Borrower Negative Covenants Subsidiaries Negative Covenants Multiple Use of Proceeds All Agents Latest Clean Price (02-Nov-2021) Accrued Interest (61 Days) YTM/01 109.916 0.678 1 618 U.S. Dollar Multiple Coupon Next Coupon Date Last Coupon Date* 01-Mar-2022 02-Sep-2025 Tony Level Issue Currency Pricing Sources Related Issues Issue Prospectus & Other Documents Financial Covenants Negative Covenants * Last Coupon Date refers to the last interest payment date prior to maturity. No Price & Derived Values i Borrower Negative Covenants Subsidiaries Negative Covenants Multiple Use of Proceeds All Agents Issue Size LOCAL 109.916 0.678 1.618 1.532 1.532 0.174 0.159 3.842 3.842 Issue Amount (USD) Current Amount Outstanding (USD) Amount Outstanding as of 03 Jul 21 (USD) Maturity Price (% of Par) Offering Price (% of Par) Face Value Minimum Denomination Minimum Increment 800,000,000 800,000,000 800,000,000 100.00 99.66 1,000 2.000 1,000 Latest Clean Price (02-Nov-2021) Accrued Interest (61 Days) YTM(%) YTW(%) YTC(%) Convexity Effective Convexity Modified Duration Modified Duration to Worst Effective Duration Partial Duration - 6 Month Partial Duration - 1 Year Partial Duration - 2 Year Partial Duration - 5 Year Partial Duration - 10 Year Partial Duration - 30 Year Spread Duration Spread to Treasury (91282CDG3) Spread to Worst Interpolated Spread Z Spread OAS (TRSY) OAS (LIBOR) Credit Default Swap - 5 Year Redemption Options i 3.857 0.011 0.031 1.126 2.689 0.000 0.000 3.858 38.241 54.458 52.196 54.458 53.920 42.058 w No Make-whole/Option Call No Convertible Callable Putable Sinking Fund Tender/Exchange Conditional Redemption No whom No Repurchase/Buyback (Call) Poison Put Yes 48.829 Redemption * Partial durations are compressed from a larger set of calculated points for display. Tyson Foods, Inc. 4.000% 01 Mar '26 109.741 Corporate Bond/Note Security Information Issuer & Industry i Cusip ISIN SEDOL Primary Exchange ID Underwriters Country of Domicile Country of Risk 902494BJ1 US9024948316 BGKDOJE TSN4798432-OTC Multiple United States United States Immediate Issuer Credit Parent Ultimate Parent FactSet Industry SIC Sector NAICS Sector Tyson Foods, Inc. Tyson Foods, Inc. Tyson Foods, Inc. Class A (TSN-US) Food: Meat/Fish/Dairy Meat Packing Plants Animal (except Poultry) Slaughtering MOODY'S RATING S&P RATING Disclaimer BBB+ DITIIIIIIIIIAAA Security Details Coupon Details i Issue Status Offering Date Issue Date Maturity Date Security Type Seniority Level Issue Currency Pricing Sources Related issues Issue Prospectus & Other Documents Financial Covenants Negative Covenants Current 13-Feb-2019 19-Feb-2019 01-Mar-2026 Corporate Bond/Note Senior Unsecured U.S. Dollar Multiple Coupon(%) Coupon Type Payment Frequency Day Count Basis Dated Date First Coupon Date Next Coupon Date Last Coupon Date* 4.000 Fixed Semi-Annual 30/360 19-Feb-2019 01-Sep-2019 01-Mar-2022 02-Sep-2025 * Last Coupon Date refers to the last interest payment date prior to maturity. Price & Derived Values i No Borrower Negative Covenants Subsidiaries Negative Covenants Multiple Use of Proceeds All Agents Latest Clean Price (02-Nov-2021) Accrued Interest (61 Days) YTM/01 109.916 0.678 1 618 U.S. Dollar Multiple Coupon Next Coupon Date Last Coupon Date* 01-Mar-2022 02-Sep-2025 Tony Level Issue Currency Pricing Sources Related Issues Issue Prospectus & Other Documents Financial Covenants Negative Covenants * Last Coupon Date refers to the last interest payment date prior to maturity. No Price & Derived Values i Borrower Negative Covenants Subsidiaries Negative Covenants Multiple Use of Proceeds All Agents Issue Size LOCAL 109.916 0.678 1.618 1.532 1.532 0.174 0.159 3.842 3.842 Issue Amount (USD) Current Amount Outstanding (USD) Amount Outstanding as of 03 Jul 21 (USD) Maturity Price (% of Par) Offering Price (% of Par) Face Value Minimum Denomination Minimum Increment 800,000,000 800,000,000 800,000,000 100.00 99.66 1,000 2.000 1,000 Latest Clean Price (02-Nov-2021) Accrued Interest (61 Days) YTM(%) YTW(%) YTC(%) Convexity Effective Convexity Modified Duration Modified Duration to Worst Effective Duration Partial Duration - 6 Month Partial Duration - 1 Year Partial Duration - 2 Year Partial Duration - 5 Year Partial Duration - 10 Year Partial Duration - 30 Year Spread Duration Spread to Treasury (91282CDG3) Spread to Worst Interpolated Spread Z Spread OAS (TRSY) OAS (LIBOR) Credit Default Swap - 5 Year Redemption Options i 3.857 0.011 0.031 1.126 2.689 0.000 0.000 3.858 38.241 54.458 52.196 54.458 53.920 42.058 w No Make-whole/Option Call No Convertible Callable Putable Sinking Fund Tender/Exchange Conditional Redemption No whom No Repurchase/Buyback (Call) Poison Put Yes 48.829 Redemption * Partial durations are compressed from a larger set of calculated points for display