PILGRIMS PRIDE CORPORATION (NASDAQ:PPC) Files An 8-K Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

On September 8, 2017, a wholly-owned subsidiary of Pilgrim’s Pride Corporation, a Delaware corporation (the “Company”), Onix Investments UK Limited, a private limited company incorporated under the laws of England and Wales and registered with company number 10934285, issued a subordinated promissory note (the “Seller Note”) in the aggregate principal amount of Five Hundred Sixty-Two Million Four Hundred Ninety Thousand British Pounds (GBP 562,490,000) to JBS S.A., a sociedade anônima organized under the laws of the Federative Republic of Brazil. The information set forth in Item 1.01 of the Company’s Current Report on Form 8-K filed on September 11, 2017 is incorporated into this report by reference.

The summary of the Seller Note set forth above and incorporated herein by reference does not purport to be complete and is qualified in its entirety by reference to the the complete text of the Seller Note, which was filed as Exhibit 10.2 to the Company’s Current Report on Form 8-K filed on September 11, 2017 and is incorporated into this report by reference.

About PILGRIM'S PRIDE CORPORATION (NASDAQ:PPC)

Pilgrim’s Pride Corporation is a retail feed store. It is a producer and seller of chicken with operations in the United States, Mexico and Puerto Rico. It is engaged in the production, processing, marketing and distribution of fresh, frozen and value-added chicken products to retailers, distributors and foodservice operators. It offers a range of products to its customers through national and international distribution channels. Its fresh chicken products consist of refrigerated (non-frozen) whole chickens, whole cut-up chickens and selected chicken parts that are either marinated or non-marinated. Its prepared chicken products include ready-to-cook and individually frozen chicken parts, strips, nuggets and patties, some of which are either breaded or non-breaded and either marinated or non-marinated. As of December 25, 2016, the Company marketed its portfolio of fresh, prepared and value-added chicken products across the United States, Mexico and in approximately 80 other countries.

PILGRIM'S PRIDE CORPORATION (NASDAQ:PPC) Recent Trading Information

PILGRIM'S PRIDE CORPORATION (NASDAQ:PPC) closed its last trading session down -0.04 at 28.95 with 769,950 shares trading hands.