debt
confidence high
sentiment neutral
materiality 0.50
Pilgrim's Pride prices $1.0B of 6.250% senior notes due 2033
PILGRIMS PRIDE CORP
- $1.0B aggregate principal amount of 6.250% senior unsecured notes due 2033.
- Net proceeds to repay outstanding term loans under U.S. credit facility; remainder for general corporate purposes.
- Offering expected to close on or about April 19, 2023, subject to customary conditions.
- Notes are unsecured senior obligations, ranking equally with existing and future unsecured senior debt.
- Underwriters include Barclays, BofA, BMO, Citigroup, Mizuho, RBC; certain underwriters are lenders under credit facility (potential conflict of interest).