Darling Ingredients Raises $500M Via Debt Offering

by Shivani Kumaresan, Benzinga Staff Writer

May 31, 2022 11:52 AM | 1 min read |

Darling Ingredients Inc DAR has launched an offering of $500.0 million of unsecured senior notes.
The notes will initially be guaranteed by all of Darling's restricted subsidiaries, other than foreign subsidiaries.
The company expects to use the gross proceeds for general corporate purposes, including acquisitions, repayment of the debt, and capital expenditures.
The company may also temporarily use the proceeds to reduce revolving credit indebtedness or invest in cash equivalents and U.S. government securities.
Price Action: DAR shares are trading lower by 1.30% at $80.60 on the last check Tuesday.

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