Moy Park gets tenders for 0.4% of 6¼% notes in change-of-control offer

By Susanna Moon

Chicago, Nov. 2 – Moy Park (Bondco) plc said investors had tendered £1,185,000 principal amount, or 0.4%, of its £300 million of 6¼% senior notes due 2021 in the change-of-control offer that ended at 8 a.m. ET on Nov. 2.

The company plans to purchase all of the tendered notes with settlement set for Nov. 3, according to an announcement.

As announced Oct. 4, the company was offering to pay £1,010 per £1,000 principal amount plus accrued interest up to but excluding the settlement date.

Under the terms of the note indenture, the company was required to make the offer following the acquisition of Granite Holdings Sarl by Pilgrim’s Pride Corp. on Sept. 8. Granite Holdings owns Moy Park Holdings (Europe) Ltd., which in turn owns Moy Park’s businesses in the United Kingdom.

D.F. King Ltd. (+44 20 7920 9700, moypark@dfkingltd.com or https://sites.dfkingltd.com/moypark) is the information agent and tender agent.

Moy Park is a Craigavon, United Kingdom-based provider of poultry and convenience food products.

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