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Mayer Brown represents lenders in $1.75 billion ABL financing that enables Pilgrim’s Pride to exit bankruptcy

30 December 2009

30 December 2009 –  Mayer Brown, a leading global law firm, represented the administrative agent and joint lead arrangers, CoBank, ACB and Rabobank International, in securing $1.75 billion in asset-based exit financing for Pilgrim’s Pride Corporation, the largest chicken producer in the US and Mexico.  The financing, one of the largest asset-based loans made in 2009, enabled Pilgrim’s Pride and six of its subsidiaries to emerge from bankruptcy after a 13-month restructuring. 

The 20-member Mayer Brown team was led by New York Finance partner Jeffrey L. Dunetz and included: associates Will Walker and Will Karim from the Charlotte office; Real Estate partner Mike Morelli and associate and Alicia Kay from the New York office; and Environmental partner Kevin Desharnais and associate Alexa Shea from the Chicago office.

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