Pilgrim's Pride Announces Pricing of Tender Offer for 2033 Senior Notes

Company to purchase up to $250 million of its 6.250% Senior Notes due 2033

Apr. 13, 2026 at 4:25pm

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An extreme close-up of the intricate, heavy machinery and equipment that powers the financial industry, representing the complex mechanics of corporate debt management.Pilgrim's Pride's debt management move aims to streamline its capital structure through a targeted tender offer.Greeley Today

Pilgrim's Pride Corporation (NASDAQ: PPC) announced the pricing and terms of its previously announced tender offer to purchase up to $250 million of its 6.250% Senior Notes due 2033. The company said it expects to accept for purchase $250 million of the tendered notes on a prorated basis, with a proration factor of approximately 53%.

Why it matters

This tender offer allows Pilgrim's Pride to manage its debt obligations and capital structure, potentially reducing interest expenses and improving its financial flexibility going forward.

The details

Pilgrim's Pride said the total consideration for the notes will be $1,056.90 per $1,000 principal amount, inclusive of an early tender payment. The company expects to make payment for the accepted notes on April 14, 2026. Due to the notes tendered exceeding the $250 million maximum, Pilgrim's Pride will accept the notes on a prorated basis.

  • The tender offer expired at 5:00 p.m. New York City time on April 10, 2026.
  • Pilgrim's Pride expects to make payment for the accepted notes on April 14, 2026.

The players

Pilgrim's Pride Corporation

A major U.S. poultry producer and processor, operating protein processing plants and prepared-foods facilities in multiple states and countries.

BMO Capital Markets Corp.

The dealer manager for Pilgrim's Pride's tender offer.

D.F. King & Co., Inc.

The tender and information agent for Pilgrim's Pride's tender offer.

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What’s next

Pilgrim's Pride expects to make payment for the accepted notes on the Early Settlement Date of April 14, 2026.

The takeaway

This debt management move by Pilgrim's Pride allows the company to proactively address its 2033 senior notes, potentially improving its capital structure and financial flexibility going forward.