Pilgrim?s Pride Corporation Announces Pricing Of Tender Offer For $250 Million Senior Notes Due 2033

Published: 2026-04-13 15:05:38 ET PPC

Published on 04/13/2026 at 03:05 pm EDT

Pilgrim?s Pride Corporation announced the total consideration payable in connection with its previously announced tender offer for up to $250 million aggregate principal amount of its 6.250% Senior Notes due 2033. the aggregate principal amount of the Notes validly tendered and not validly withdrawn as of 5:00 p.m., New York City time, on April 10, 2026 and expected to be accepted for purchase in each Tender Offer, the approximate proration factor for the Notes and the Total Consideration for the Notes, as calculated at 10:00 a.m., New York City time, April 13, 2026. The Tender Offer is being made upon the terms, and subject to the conditions, previously described in the offer to purchase dated March 30, 2026.

Withdrawal rights for the Notes expired on the Early Tender Date. The Company expects to elect to exercise its right to make payment on April 14, 2026 for Notes that were validly tendered prior to or at the Early Tender Date and that are accepted for purchase. Because the aggregate principal amount of Notes that have been validly tendered and not validly withdrawn prior to or at the Early Tender Date exceeds the Maximum Tender Amount, the Company does not expect to accept for purchase all Notes that have been validly tendered and not validly withdrawn prior to or at the Early Tender Date.

Rather, the Company expects to accept for purchase $250,000,000 aggregate principal amount of the Notes validly tendered and not validly withdrawn prior to or at the Early Tender Date on a prorated basis using a proration factor of approximately 53%. As described further in the Offer to Purchase, Notes tendered and not accepted for purchase will be promptly credited to the tendering holder?s account. Additionally, because the Notes validly tendered and not validly withdrawn prior to or at the Early Tender Date have an aggregate principal amount that exceeds the Maximum Tender Amount, the Company does not expect to accept for purchase any Notes tendered after the Early Tender Date on a subsequent settlement date.

The Total Consideration listed in the table above will be paid per $1,000 principal amount of the Notes validly tendered and accepted for purchase pursuant to the Tender Offer on the Early Settlement Date. Only holders of Notes who validly tendered and did not validly withdraw their Notes prior to or at the Early Tender Date are eligible to receive the Total Consideration for Notes accepted for purchase. Holders will also receive accrued and unpaid interest on Notes validly tendered and accepted for purchase from the last interest payment date up to, but not including, the Early Settlement Date.

The Company?s obligation to purchase, and to pay for, Notes validly tendered in the Tender Offer and not validly withdrawn pursuant to the Tender Offer is conditioned upon the satisfaction or, when applicable, waiver of certain conditions, which are more fully described in the Offer to Purchase. The Tender Offer is not conditioned upon the tender of any minimum principal amount of Notes. However, the Tender Offer is subject to the Maximum Tender Amount.

The Company reserves the right, but is under no obligation, to increase the Maximum Tender Amount at any time, subject to compliance with applicable law. In the event of a termination of the Tender Offer, neither the applicable consideration will be paid or become payable to the holders of the Notes, and the Notes tendered pursuant to the Tender Offer will be promptly returned to the tendering holders. The Company has the right, in its sole discretion, to not accept any tenders of Notes for any reason and to amend or terminate the Tender Offer at any time.