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Pilgrim's Pride Corporation Announces Cash Tender Offer for Up to $250 Million Aggregate Principal Amount of its Outstanding 6.250% Senior Notes Due 2033

PPC
  • Pilgrim's Pride Corporation announced a cash tender offer for up to $250 million of its 6.250% Senior Notes due 2033.
  • The offer applies to $922,521,000 in outstanding notes referenced against the 4.125% U.S. Treasury due 2/15/36.
  • The tender offer expires at 5:00 p.m. New York time on April 27, 2026, unless extended or terminated.
  • The Early Tender Date is April 10, 2026, at 5:00 p.m. New York time.
  • Holders tendering by the Early Tender Date receive a $50 early tender payment per $1,000 principal plus accrued interest.
  • The total consideration is calculated using a fixed spread of 95 basis points plus the yield of the U.S. Treasury Reference Security at 10:00 a.m. on April 13, 2026.
  • Tenders submitted after the Early Tender Date but before expiration receive the total consideration minus the early tender payment plus accrued interest.
  • The company intends to fund the purchase using cash on hand.
  • Settlement for accepted notes tendered by the Early Tender Date is expected within three business days of that date.
  • BMO Capital Markets Corp. serves as the dealer manager for the transaction.
  • D.F. King & Co., Inc. acts as the tender and information agent.
  • The tender offer is not conditioned on a minimum principal amount of notes being tendered.
  • The company reserves the right to increase, decrease, or terminate the maximum tender amount.
  • Tendered notes may be withdrawn prior to the Early Tender Date but not after.
  • Neither the offer to purchase nor related documents have been filed with or reviewed by the SEC.