Pilgrims Pride, a subsidiary of JBS in the United States, said on Thursday it had offered $ 900 million for senior securities notes due in 2032.
According to a statement, the bonds will pay 100% of the total principal amount and yield a return of 3.5%. Due to demand, the issue amount was increased from the initial plan of $ 750 million. The sale of the notes is expected to end on September 2.
The company plans to fund the purchase of food and beverage businesses prepared by Kerry Consumer Foods in the UK and Ireland. The rest will be used to repay loans and public corporate needs.
The move comes after JBS announced it intends to delist Pilgrim Pride. The Brazilian company, which already owns 80.21% of the shares held by PPC, last week approved a letter to the US company asking it to buy each of the top shares for $ 26.50.
This has already had an impact on Thursday’s issue, with PPC reporting that “S&P Global announced that, due to JBS’s recent announcement, it now sees the company as a central subsidiary of JBS.”
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