Debt Capital Markets
Senior Unsecured Notes
On March 7, 2018, Pilgrim’s Pride Corporation (“Pilgrim’s Pride” or the “Company”) closed two series of Senior Unsecured Notes (the “Notes”) for an aggregate principal amount of $500 million. These Notes consist of:
− $250 million add-on to the existing 5.750% Senior Unsecured Notes due 2025
− $250 million add-on to the existing 5.875% Senior Unsecured Notes due 2027
• Both securities were issued pursuant to Rule 144A and Regulation S under the Securities Act
• Proceeds from the offering of the notes are being used in connection with an offer to purchase for cash any and all of the outstanding 6.25% Senior Notes due 2021 issued by Moy Park Plc, a financing subsidiary of Moy Park Holdings (Europe) Limited and an indirect subsidiary of the Company
− Remaining proceeds will be used to repay a portion of certain of the Company’s outstanding secured debt and for general corporate purposes
• Stephens Inc. served as Co-Manager in the offering
Pilgrim’s Pride Corporation
Pilgrim’s employs approximately 51,300 people and operates chicken processing plants and prepared-foods facilities in 14 states, Puerto Rico, Mexico, the U.K, and continental Europe. The Company’s primary distribution is through retailers and foodservice distributors. For more information, please visit www.pilgrims.com.
This material has been prepared solely for informative purposes as of its stated date and is not a solicitation, or an offer, to buy or sell any security. It does not purport to be a complete description of the securities, markets or developments referred to in the material. Information included in the material was obtained from external sources which we consider reliable, but we have not independently verified such information and do not guarantee that it is accurate or complete. Such information is believed to be accurate on the date of issuance of the material. No subsequent publication or distribution of this material shall mean or imply that any such information or opinion remains current at any time after the stated date of the material. We do not undertake to advise you of any changes in any such information or opinion. Additional information is available upon request.
Astara Capital Partners Has Acquired Del-Air Heating, Air Conditioning & Refrigeration. Stephens served as exclusive financial advisor to Astara Capital Partners (“Astara”) on the Transaction
Kimbell Royalty Partners, LP prices Its follow-on offering. Stephens served as co-manager on the offering.
Executive Network Partnering Corporation And Grey Rock Investment Partners Have Entered Into A Definitive Agreement To Complete A Business Combination. Stephens served as financial advisor to ENPC and provided a fairness opinion to its Board of Directors in the transaction.