Greeley’s Pilgrim’s Pride offers $500M in unsecured notes
GREELEY — Pilgrim’s Pride Corp. (Nasdaq: PPC) is offering $500 million in 10-year unsecured notes to qualified institutional buyers, according to documents filed Wednesday with the federal Securities and Exchange Commission.
In a media statement issued Wednesday, the company said it intends to apply $350 million of the sale’s proceeds toward debt payments, with the balance to be used for “general corporate purposes.”
The Greeley-based chicken processor employs about 35,500 people and operates chicken processing plants and prepared-foods facilities in 12 states, Puerto Rico and Mexico. Its primary distribution is through retailers and food-service distributors. Brazilian meatpacker JBS S.A.…
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