UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Date of
report (Date of earliest event reported): December 1,
2009
PILGRIM'S
PRIDE CORPORATION
(Exact
Name of Registrant as Specified in its Charter)
Delaware 1-9273 75-1285071
(State
or Other
Jurisdiction (Commission (IRS
Employer
of
Incorporation) File
Number)
Identification No.)
4845 US Highway 271 N.
Pittsburg,
Texas 75686-0093
(Address of Principal Executive
Offices) (ZIP
Code)
Registrant's
telephone number, including area code: (903) 434-1000
Not
Applicable
(Former
Name or Former Address, if Changed Since Last Report)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
q Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
q Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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q
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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q
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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Item
1.01. Entry into a Material Definitive Agreement.
On
December 1, 2009, Pilgrim's Pride Corporation (the "Company") entered into a
Fourth Amendment (the "Amendment") to the Amended and Restated Post-Petition
Credit Agreement dated December 31, 2008 among the Company, as borrower, certain
subsidiaries of the Company, as guarantors, Bank of Montreal, as agent, and the
lenders party thereto (the "Credit Agreement"). The Amendment is
subject to the approval of the United States Bankruptcy Court for the Northern
District of Texas, Fort Worth Division. The Amendment amends the
Credit Agreement to extend the maturity date of the Credit Agreement from
December 1, 2009 to January 31, 2010. In connection with the
Amendment, the Company also agreed to reduce the total available commitments
under the Credit Agreement from $350,000,000 to $250,000,000.
The above
discussion is a summary of certain terms and conditions of the Amendment and is
qualified in its entirety by the terms and conditions of the Amendment. For the
complete terms and conditions of the Amendment summarized in this report, please
refer to the Amendment attached hereto as Exhibit 10.1 and incorporated by
reference herein.
Item
9.01. Financial
Statements and Exhibits.
(d) Exhibits.
Exhibit
Number Description
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10.1
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Fourth
Amendment to Amended and Restated Post-Petition Credit Agreement, dated as
of December 1, 2009, among the Company, as borrower, certain subsidiaries
of the Company, as guarantors, Bank of Montreal, as agent, and the lenders
party thereto.
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Signatures
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
PILGRIM'S PRIDE
CORPORATION
Date: December
2,
2009 By:
/s/ Richard A.
Cogdill
Richard A. Cogdill
Chief Financial Officer, Secretary and
Treasurer
EXHIBIT
INDEX
Exhibit
Number Description
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10.1
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Fourth
Amendment to Amended and Restated Post-Petition Credit Agreement, dated as
of December 1, 2009, among the Company, as borrower, certain subsidiaries
of the Company, as guarantors, Bank of Montreal, as agent, and the lenders
party thereto.
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