Darling in no rush to refi debt in inverted interest rate environment

By Devika Patel

Knoxville, Tenn., March 4 – Darling Ingredients Inc. is in no hurry to refinance upcoming maturing debt, since the bonds are favorably priced and the company has been operating in an inverted interest rate environment for many years.

“The true thing you manage in this business is the balance sheet and we’re levered, at the end of the year, 3.26x,” chairman and chief executive officer Randall C. Stuewe said at the Raymond James Annual Institutional Investors Conference in Orlando, Fla., on Monday.

“I’ve run the business with 5.5x.

“I’ve run it with zero.

“Our goal, right now, is we have some debt maturing, a couple of bonds, very favorably priced.

“If you think about the world that we’ve lived in, we’ve been in a kind of an inverted interest rate environment for 15 years, or whatever it’s been, and, so, there’s no rush to the market to go refinance,” he said.

Darling is an Irving, Tex.-based developer and producer of sustainable natural ingredients from edible and inedible bio-nutrients.

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