Pilgrim's Pride (PPC) Prices $500M Notes Offering

Pilgrim's Pride Corporation (NASDAQ: PPC) announced today the pricing of its offering of $500.0 million aggregate principal amount of 6.875% senior notes due 2034 (the "Notes") at an issue price of 98.041%. The offering is being made pursuant to PPC's automatic shelf registration statement on Form S-3 and accompanying prospectus supplement filed with the Securities and Exchange Commission.

PPC intends to use the net proceeds from the offering, together with cash on hand, to pay the tender price of any outstanding 5.875% Senior Notes due 2027 (the "2027 Notes") tendered in the tender offer commenced by PPC concurrently with the offering and to redeem any 2027 Notes that remain outstanding following the consummation of such tender offer.

Barclays Capital Inc., BMO Capital Markets Corp., ING Financial Markets LLC, Mizuho Securities USA LLC, Rabo Securities USA, Inc., RBC Capital Markets, LLC, Regions Securities LLC and Truist Securities, Inc. are acting as joint-bookrunning managers for the offering.

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 SEC's website at www.sec.gov.

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.

You May Also Be Interested In