Pilgrim’s Pride issues US$1B sustainability-linked bond as Vertical Farmer AeroFarms gears up for public listing

US – American multinational food company Pilgrim’s Pride has announced a US$1 billion sustainability-linked bond tied to the company’s Sustainability Performance Target (SPT) of reducing its greenhouse gas emissions by 30% by 2030. Bloomberg reports that the interest rate on Pilgrim Pride’s new bond will climb 25 basis points if the company fails to prove through a third-party verification service that it hit its sustainability targets. The new US$1 billion sustainability-linked bond can be interpreted as Pilgrim’s Pride attempt to put its money where its mouth is when promising improved…

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Pilgrim’s Pride invests US$75M million to expand its production facility in Cold Spring

USA – Pilgrim’s Pride, a poultry company, is investing US$75 million to expand its production facility in Cold Spring, Minnesota creating an additional 130 jobs. When construction is complete in early 2021, which will add 50,000 square feet of additional space to the plant, Pilgrim’s will be able to increase daily production of its chicken products, including its Just Bare Chicken brand. “Today’s announced expansion is an important strategic investment for Pilgrim’s, and it will help ensure our Cold Spring facility can grow its capacity to provide premium chicken products…

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