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.
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