Darling Ingredients Raises $500M Via Debt Offering

• Darling Ingredients Inc (NYSE: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.