Pilgrim’s Pride refinances $896.14M in long-term debt
GREELEY — Pilgrim’s Pride Corp. (Nasdaq: PPC) will buy back just more than $896.14 million in long-term debt as part of a refinancing effort.
In a statement, the company said note-holders of $1 billion of debt that would be due in 2025 offered to trade in 89.61% of those notes, which hold a 5.75% interest rate.
Pilgrim’s previously said it would offer some of its reserved cash to cover the buyback along with new debt issuances, but has yet to disclose the interest rate or maturation date of that new debt.
SPONSORED CONTENT
The company holds approximately $2.3 billion in long-term debt ranging in due dates between 2023 and 2027, according to its latest annual report.
© 2021 BizWest Media LLC
GREELEY — Pilgrim’s Pride Corp. (Nasdaq: PPC) will buy back just more than $896.14 million in long-term debt as part of a refinancing effort.
In a statement, the company said note-holders of $1 billion of debt that would be due in 2025 offered to trade in 89.61% of those notes, which hold a 5.75% interest rate.
Pilgrim’s previously said it would offer some of its reserved cash to cover the buyback along with new debt issuances, but has yet to disclose the interest rate or maturation date of that new debt.
The company holds approximately $2.3 billion in long-term debt ranging in…
THIS ARTICLE IS FOR SUBSCRIBERS ONLY
Continue reading for less than $3 per week!
Get a month of award-winning local business news, trends and insights
Access award-winning content today!
Related Posts
-
A recent gap in downtown’s restaurant offerings will be filled soon when Smokin’ Dave’s BBQ…
-
Residents needing transportation to Denver International Airport will have to find passage through Loveland, as…
-
Greeley's former Red Lobster restaurant is on tap to become a convenience stores and gas…
-
Another icon of Greeley history will come to a close this month. Kenny’s Steakhouse, named…
