Pilgrim's Pride Corporation (PPC) announced that it has commenced registered exchange offers of up to: $1.0 billion aggregate principal amount of its newly issued 4.250% Sustainability-Linked Senior Notes due 2031 registered under the U.S. Securities Act of 1933, as amended, for an equal principal amount of its outstanding 4.250% Sustainability-Linked Senior Notes due 2031; and $900.0 million aggregate principal amount of its newly issued 3.500% Senior Notes due 2032 registered under the Securities Act, for an equal principal amount of its outstanding 3.500% Senior Notes due 2032. The Existing Notes were issued in private offerings pursuant to Rule 144A and Regulation S under the Securities Act. The Exchange Offers were commenced in order to satisfy PPC's obligations under a registration rights agreement entered into in connection with successful consent solicitations to amend certain provisions of the indentures governing the Notes.

 The terms of the Registered Notes are identical in all material respects to the terms of the corresponding series of Existing Notes, except that the Registered Notes have been registered under the Securities Act. PPC will receive no proceeds from the Exchange Offers.