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  4. [8-K] PILGRIMS PRIDE CORP Reports Material Event

Pilgrim’s Pride sells €500M notes due 2034

Interest payments are due annually beginning January 23, 2027, while proceeds are intended in part to fund the recently announced Walkers acquisition.

Filing Impact
(Very High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Pilgrim’s Pride Corporation and its wholly owned subsidiary, Pilgrim’s Europe Finance PLC, completed a private offering exempt from registration under the Securities Act of 1933, as amended, selling only to qualified institutional buyers €500 million aggregate principal amount of 4.750% senior notes due January 23, 2034. The notes are unsecured senior obligations and rank equally with the issuers’ other unsubordinated indebtedness. Interest is payable annually in arrears on January 23, beginning January 23, 2027.

The issuers intend to use the net proceeds for general corporate purposes, including funding consideration for the company’s recently announced acquisition of Walkers Deli & Sausage Company and paying related costs and expenses. The notes were issued under an indenture containing customary covenants and events of default, including failure to pay principal or interest when due.

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Item 1.01 Entry into a Material Definitive Agreement Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement Financial
The company incurred a new significant debt or off-balance-sheet obligation.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Aggregate principal amount €500 million Senior notes sold by the issuers
Interest rate 4.750% Senior notes due 2034
Maturity date January 23, 2034 Date the notes mature
First interest payment January 23, 2027 Interest payable annually in arrears
aggregate principal amount financial
"€500 million aggregate principal amount of their 4.750% senior notes"
The aggregate principal amount is the total amount of money borrowed through a bond or loan that the borrower promises to repay. It’s like the original price tag on a loan or bond, showing how much money is involved in the deal. This number matters because it indicates the size of the debt and helps investors understand the scale of the borrowing.
qualified institutional buyers regulatory
"The Notes were sold only to “qualified institutional buyers”"
Qualified institutional buyers are large organizations, like big investment firms or banks, that are allowed to buy certain types of investment opportunities not available to everyday investors. Their size and experience matter because it ensures they understand and can handle complex financial deals, making markets more efficient and secure.
unsecured senior obligations financial
"The Notes are unsecured senior obligations of the Issuers"
Unsecured senior obligations are debts a company promises to repay that have first claim on the company’s assets ahead of subordinated creditors but are not backed by specific collateral. Think of them as holding a top spot in line for repayment without a pledged asset to seize; they matter to investors because they typically carry lower risk than lower-priority debt but higher risk (and often higher interest) than secured loans, influencing expected recovery if the issuer defaults.
events of default financial
"customary covenants and events of default"
Events of default are specific breaches or failures listed in a loan, bond, or credit agreement that give lenders the right to act, such as demanding immediate repayment, raising interest rates, or taking secured assets. They matter to investors because triggering one is like setting off a financial alarm: it raises the chance of foreclosure, restructuring, or bankruptcy and can sharply reduce the value of a company’s stock or bonds and increase borrowing costs.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much did PPC issue in senior notes?
Pilgrim’s Pride Corporation and Pilgrim’s Europe Finance PLC completed a sale of €500 million aggregate principal amount of 4.750% senior notes.

What is the interest rate and payment schedule for PPC’s notes?
The notes carry a 4.750% interest rate, payable annually in arrears on January 23, beginning January 23, 2027.

When do PPC’s senior notes mature?
The notes mature on January 23, 2034.

How does PPC intend to use the note proceeds?
The issuers intend to use net proceeds for general corporate purposes, including funding consideration for the recently announced Walkers Deli & Sausage Company acquisition and paying related costs and expenses.

Are PPC’s notes secured, and how do they rank?
The notes are unsecured senior obligations and rank equally with the issuers’ other unsubordinated indebtedness.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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PILGRIMS PRIDE CORP0000802481false00008024812026-09-232026-09-23

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported): September 23, 2026
PILGRIM'S PRIDE CORPORATION
(Exact Name of registrant as specified in its charter)
Delaware1-927375-1285071
(State or other jurisdiction of
incorporation or organization)		(Commission File Number)(IRS Employer Identification No.)
1770 Promontory Circle80634-9038
GreeleyCO(Zip Code)
(Address of principal executive offices)
Registrant's telephone number, including area code: (970) 506-8000
Not Applicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading SymbolName of Exchange on Which Registered
Common Stock, Par Value $0.01PPCThe Nasdaq Stock Market LLC
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
 Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐


Item 1.01 Entry into a Material Definitive Agreement.
On September 23, 2026, Pilgrim’s Pride Corporation (the “Company”) and Pilgrim’s Europe Finance PLC, a wholly-owned subsidiary of the Company (together with the Company, the “Issuers”), completed a sale of €500 million aggregate principal amount of their 4.750% senior notes due 2034 (the “Notes”).
The Notes were sold in a private offering exempt from the registration requirements of the United States Securities Act of 1933, as amended (the “Securities Act”). The Notes were sold only to “qualified institutional buyers” pursuant to Rule 144A of the Securities Act and to certain persons outside the United States pursuant to Regulation S of the Securities Act.
The Notes were issued pursuant to the Indenture, dated as of September 23, 2026, by and among the Issuers, as co-issuers, and Citibank, N.A., London Branch, as trustee (the “Indenture”).
The Issuers will pay interest on the Notes annually in arrears on January 23 of each year, beginning on January 23, 2027. The Notes will mature on January 23, 2034. The Notes are unsecured senior obligations of the Issuers and rank equally with all of the Issuers’ other unsubordinated indebtedness. The Indenture contains customary covenants and events of default, including failure to pay principal or interest on the Notes when due.
The Issuers intend to use the net proceeds from the offering of the Notes for general corporate purposes, including to fund the consideration in connection with the Company’s recently announced acquisition of Walkers Deli & Sausage Company (the “Walkers Acquisition”) and to pay costs and expenses related thereto.
The foregoing description of the material terms of the Indenture is qualified in its entirety by reference to the Indenture, which is attached to this Current Report on Form 8-K as Exhibit 4.1 and incorporated herein by reference.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an off-Balance Sheet Arrangement of a Registrant.
The information in Item 1.01 above is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No.Description
4.1
Indenture, dated as of September 23, 2026 among the Company and Pilgrim’s Europe Finance PLC, as co-issuers, Citibank, N.A., London Branch, as trustee.
4.2
Form of 4.750% Note due 2034 (included in Exhibit 4.1).
104Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)


SIGNATURES  
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
PILGRIM’S PRIDE CORPORATION
Date: September 23, 2026/s/ Matthew Galvanoni
Matthew Galvanoni
Chief Financial Officer and Chief Accounting Officer

Source: View Original Filing on SEC EDGAR

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