PILGRIM'S PRIDE ANNOUNCES PRICING OF SENIOR UNSECURED NOTES DUE 2033
Pilgrim's Pride Corporation (NASDAQ: PPC) announced the pricing of its offering of $1.0 billion in senior unsecured notes due 2033, with a 6.250% interest rate. This offering is made under PPC's shelf registration statement and will be guaranteed by its domestic subsidiaries. The proceeds will primarily be used to repay outstanding term loans under its U.S. credit facility, with remaining funds allocated for general corporate purposes. Leading investment banks, including Barclays, BofA Securities, and others, are serving as joint-bookrunning managers for the offering.
- Successful pricing of $1.0 billion in senior unsecured notes.
- The 6.250% interest rate may be favorable compared to market rates.
- Proceeds to reduce existing debt, enhancing financial stability.
- None.
PPC intends to use the net proceeds from the offering to repay the outstanding term loans under its
The offering will be made only by means of a preliminary prospectus supplement and accompanying prospectus, copies of which may be obtained, when available, by visiting the
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities discussed in this press release in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The securities being offered have not been approved or disapproved by any regulatory authority, nor has any such authority passed upon the accuracy or adequacy of the prospectus supplement or the shelf registration statement or base prospectus.
About PPC
PPC employs over 61,500 people and operates protein processing plants and prepared-foods facilities in 14 states,
Important Notice Regarding Forward-Looking Statements:
This press release contains certain forward-looking statements. Statements that are not historical facts, including statements about our perspectives and expectations, are forward looking statements. The words "expect", "believe", "estimate", "intend", "plan" and similar expressions, when related to PPC and its subsidiaries, indicate forward-looking statements. These statements reflect the current view of management and are subject to various risks and uncertainties. Such risks and uncertainties include those described in PPC's filings with the
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