Pilgrim’s Pride establishes new credit agreement
GREELEY — Pilgrim’s Pride Corp. (Nasdaq: PPC), with headquarters in Greeley, has entered into a new credit agreement. Terms of the new agreement consist of a $750 million revolving credit facility and a term loan commitment of $500 million.
Pilgrim’s used proceeds of the loans under the new term loan commitment, together with cash on hand, to repay the outstanding loans under the replaced credit facility.
An expansion feature is included in the new agreement that provides the company the opportunity to increase the whole facility for an additional $1.25 billion. The…
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