Davis Polk advised Credit Suisse Securities (USA) LLC, Barclays Capital Inc., Rabo Securities USA, Inc., RBC Capital Markets, LLC, Wells Fargo Securities, LLC, SG Americas Securities, LLC and U.S. Bancorp Investments, Inc. as initial purchasers in connection with a $500 million offering of 5.750% senior unsecured notes due 2025 by Pilgrim’s Pride Corporation, which were issued pursuant to Rule 144A and Regulation S under the Securities Act.

The proceeds will be used to pay down indebtedness outstanding under the term loan commitment of its U.S. credit facility, as well as for general corporate purposes.

Pilgrim’s Pride Corporation employs approximately 35,500 people and operates chicken processing plants and prepared-foods facilities in 12 states, Puerto Rico and Mexico. The company’s primary distribution is through retailers and foodservice distributors.

The Davis Polk corporate team included partner Michael Kaplan, counsel Derek Dostal and associates Alice Z. Chen and Skawenniio Barnes. The environmental team included counsel Betty M. Huber and associate Michael Comstock. The tax team included partner Michael Mollerus and associates Patrick E. Sigmon and Elina Khodorkovsky. Members of the Davis Polk team are based in the New York and Washington DC offices.