Pilgrim's Pride to start roadshow Tuesday for $450 million of notes

By Paul A. Harris

St. Louis, Jan. 12 - Pilgrim's Pride will begin a roadshow on Tuesday for its $450 million two-part offering of high-yield notes, according to an informed source.

The Pittsburg, Texas, poultry producer is offering a $250 million tranche of eight-year senior notes, which come with four years of call protection, and a $200 million tranche of 10-year senior subordinated notes, which come with five years of call protection.

Lehman Brothers and Credit Suisse are leading the offering of notes, which are registered with the Securities and Exchange Commission.

The company is also putting in place $1.225 billion of credit facilities.

Proceeds will be used to help fund the merger with Atlanta-based poultry producer Gold Kist Inc.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.