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Pilgrim's Pride Corporation - Tender Offer & Consent Solicitation - Launch

Pilgrim's Pride Corporation Announces Cash Tender Offer and Consent Solicitation


Full announcement including disclaimers and offer restrictions available via Prnewswire

"GREELEY, Colo., Sept. 27, 2023 /PRNewswire/ -- Pilgrim's Pride Corporation (NASDAQ: PPC) (the "Company") announced today that it has commenced a cash tender offer (the "Tender Offer") for any and all of the outstanding U.S.$850,000,000 aggregate principal amount of its 5.875% Senior Notes due 2027 (the "Notes").

In conjunction with the Tender Offer, the Company is also soliciting consents (the "Consent Solicitation") from the holders of the Notes for the adoption of proposed amendments (the "Proposed Amendments"), which would, among other things, (i) eliminate substantially all of the restrictive covenants and certain events of default and related provisions contained in the indenture governing the Notes and (ii) reduce the minimum required notice period for the redemption of Notes from at least 30 days to at least two business days prior to the redemption date (maintaining the maximum notice period of not more than 60 days)."


"Certain information regarding the Notes and the terms of the Tender Offer and the Consent Solicitation is summarized in the table below."



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