Pilgrim's Pride Corporation announced the pricing of its offering of $500.0 million aggregate principal amount of 6.875% senior notes due 2034 at an issue price of 98.041%. The offering is being made pursuant to PPC's automatic shelf registration statement on Form S-3 and accompanying prospectus supplement filed with the Securities and Exchange Commission. PPC intends to use the net proceeds from the offering, together with cash on hand, to pay the tender price of any outstanding 5.875% Senior Notes due 2027 (the "2027 Notes") tendered in the tender offer commenced by PPC concurrently with the offering and to redeem any 2027 Notes that remain outstanding following the consummation of such tender offer.

The offering is expected to close on or about October 12, 2023 (the Closing Date"), subject to customary closing conditions. The Notes will be issued pursuant to an indenture, dated as of April 19, 2023 (the Base Indenture"), among the Company, the guarantors party thereto and Regions Bank, as Trustee (the Trustee"), as supplemented by a second supplemental indenture, to be dated as of the Closing Date (the Second Supplemental Indenture" and, together with the Base Indenture, the Indenture"), between the Company and the Trustee. In connection with the offering of the Notes, on September 27, 2023, the Company entered into an underwriting agreement with Barclay's Capital Inc. and Mizuho Securities USA LLC, as representatives of the several underwriters named therein, relating to the sale of the Notes (the Underwriting Agreement").

The Underwriting Agreement includes customary representations, warranties, covenants, closing conditions, indemnification obligations and other customary provisions.