Darling Ingredients Raises $250M Via Add-On Debt Offering

BY Benzinga | CORPORATE | 08/15/22 10:55 AM EDT
  • Darling Ingredients Inc (NYSE:DAR) has launched an add-on offering of $250 million in aggregate principal amount of unsecured senior notes.
  • The add-on notes will be issued as additional notes under the same indenture as Darling's 6% senior notes due 2030, $750.0 million of which were issued on June 9, 2022.
  • The add-on notes will have the same terms as the initial notes and will constitute a single class of securities under the indenture.
  • The gross proceeds of the add-on notes offering are expected to be used for general corporate purposes.
  • Price Action: DAR shares are trading lower by 2.19% at $75.61 on the last check Monday.

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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