Pilgrim’s Pride to Offer Senior Unsecured Notes

Pilgrim’s Pride (PPC) said Monday that it is offering two series of senior unsecured notes, consisting of additional 5.750% senior unsecured notes due 2025 and new senior unsecured notes due 2027.

The additional 2025 notes are being offered as additional notes under an existing indenture pursuant to which the company previously issued $500.0 million in aggregate principal amount of 5.750% senior notes due 2025. The new notes will vote together with, and will constitute part of the same series as, the existing 2025 notes.

The company said it will apply the net proceeds, together with cash on hand, to repay the outstanding indebtedness incurred in connection with its previously announced acquisition of Moy Park.

The notes will be offered in a private offering and only to qualified institutional buyers.

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