Pilgrim’s Pride, To-Ricos parent, seeks to raise $500M
Poultry processing and food distributor Pilgrim’s Pride announced Friday it will price $500 million in senior unsecured notes, an increase from the original $350 million it sought to raise earlier this year.
The notes will bear interest at a rate of 7.875 percent per year, payable semi-annually in arrears on December 15 and June 15 of each year, beginning on June 15, 2011.The notes will become due in 2018. The offering is expected to close Tuesday.