Pilgrim’s Pride Corporation Announces Cash Tender Offer for Up to $250 Million Aggregate Principal Amount of its Outstanding 6.250% Senior Notes Due 2033

Core Viewpoint - Pilgrim's Pride Corporation has initiated a cash tender offer for up to $250 million of its 6.250% Senior Notes due 2033, indicating a strategic move to manage its debt obligations and optimize its capital structure [1][3]. Tender Offer Details - The tender offer is for a maximum principal amount of $250 million of the 6.250% Senior Notes, which have an outstanding amount of $922.521 million [2][3]. - The offer will expire at 5:00 p.m. New York City time on April 27, 2026, with an early tender date set for April 10, 2026 [4][11]. - Holders who tender their notes by the early tender date will receive a total consideration that includes an early tender payment of $50 per $1,000 principal amount [4][5]. Consideration Structure - The total consideration for the notes will be determined based on a fixed spread of +95 basis points over the yield of a U.S. Treasury reference security [2][5]. - Late tenders will receive a consideration equal to the total consideration minus the early tender payment [5][6]. Conditions and Funding - The company's obligation to purchase the notes is subject to certain conditions, and it reserves the right to amend or terminate the tender offer at any time [8][9]. - The purchase will be funded with cash on hand [9]. Company Overview - Pilgrim's Pride Corporation employs approximately 63,000 people and operates in multiple regions, including the U.S., Puerto Rico, Mexico, the U.K., Ireland, and continental Europe, focusing on protein processing and prepared foods [18].