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Pilgrim’s Pride Raises US$500 Million to Reduce Debt

6 March 2015, at 8:06am

US - The US poultry subsidiary of meat processing giant JBS, Pilgrim’s Pride, has raised $500 million through a senior notes offering on the market.

Pilgrim's Pride intends to use a portion of the proceeds against the payment of its shorter term secured indebtedness and the balance for general corporate purposes.

The $500 million aggregate principal amount was oversubscribed several times over and the 5.75 per cent yield on the 10-year Notes represents the lowest coupon for an issuance by a Company in the JBS family.

JBS said that this reflects the Group's continuing commitment towards improving its debt profile.