Pilgrim’s Pride to repay $700 million term loan commitment

By William Gullotti

Buffalo, N.Y., April 4 – Pilgrim's Pride Corp. intends to repay the outstanding $700 million senior secured term loan commitment from its $1.5 billion credit facility with CoBank, ACB, according to a 424B5 filing with the Securities and Exchange Commission.

Although the current outstanding balance of the term loan was not disclosed in the filing, the company noted that it had approximately $765 million of aggregate availability under the facility as of Dec. 25, 2022.

The credit facility, amended on Aug. 9, 2021, consisted of an $800 million ABL revolver and $700 million term loan.

Pilgrim’s Pride is a Greeley, Colo.-based poultry processor.

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