Pilgrim’s Pride negotiates loans with consortium of banks

GREELEY — Pilgrim’s Pride Corp. (Nasdaq: PPC) on Tuesday said it entered a credit agreement with a consortium of banks for a $750 million revolving loan and a term-loan commitment of $800 million. The new loans replace the company’s existing $700 million revolving loan and $500 million term-loan commitment. The proceeds of the new loans were used to pay off outstanding revolving borrowings. Greeley-based Pilgrim’s pride employs approximately 41,900 people and operates chicken-processing plants and…