Pilgrim's Pride to offer millions in senior unsecured notes

by Meat&Poultry Staff
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GREELEY, Colo. – Pilgrim's Pride Corporation intends to offer $350 million in aggregate principal amount of senior unsecured notes due 2018 in a private placement to be conducted pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended, subject to market and other conditions.

The notes will be issued by Pilgrim's Pride and will be guaranteed on a senior unsecured basis by Pilgrim's Pride Corporation of West Virginia Inc. and any other existing or future domestic restricted subsidiary of Pilgrim's Pride that incurs or guarantees any other indebtedness, with limited exceptions.

The company intends to use the net proceeds from the offering to repay borrowings under its existing term loan credit facilities and to pay fees and expenses incurred in connection with the offering.
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