PPC’s $1 Billion Sustainability-Linked Senior Notes Offering

Davis Polk advised the initial purchasers in the offering.

Pilgrim’s Pride Corporation executed its offering of $1 billion aggregate principal amount of its 4.250% sustainability-linked notes due 2031, guaranteed by Pilgrim’s Pride Corporation of West Virginia, Gold’n Plump Poultry, LLC, Gold’n Plump Farms, LLC and JFC LLC.

The initial purchasers included Barclays Capital, BMO Capital Markets, RBC Capital Markets, Rabo Securities USA, and Truist Securities.

PPC is primarily engaged in the production, processing, marketing and distribution of fresh, frozen and value-added chicken and pork products to retailers, distributors and foodservice operators. PPC markets its products to a diverse set of over 6,100 customers across the United States, the United Kingdom and Europe, Mexico and in approximately 115 other countries.

The Davis Polk corporate team advising the initial purchasers included Manuel Garciadiaz (Picture), Drew Glover and Felipe Saraiva Carneiro. Dominic Foulkes advised on U.S. tax matters. 

Involved fees earner: Dominic Foulkes – Davis Polk & Wardwell; Manuel Garciadiaz – Davis Polk & Wardwell; Drew Glover – Davis Polk & Wardwell; Felipe Saraiva Carneiro – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Barclays Capital ; BMO Capital Markets; Rabo Securities; RBC Capital Markets; Truist Securities Inc. ;

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