Pilgrim’s Pride Corporation, the poultry group that has just completed the acquisition of rival Gold Kist, has announced it intends to offer an aggregate of approximately US$450m of its unsecured notes. The offer is subject to market and other conditions.
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Pilgrim’s Pride will use the net proceeds of the offering to refinance indebtedness related to its acquisition of Gold Kist. The company said a definitive agreement relating to the proposed offering of the notes has not been entered into by Pilgrim’s Pride and there can be no assurances that the notes offering will be consummated.
Pilgrim’s Pride added that if and when issued, the notes will be issued under a shelf registration statement which has been filed with, and declared effective by, the Securities and Exchange Commission.
