On October 4, 2023, Pilgrim's Pride Corporation and certain of the Company's subsidiaries entered into a Revolving Syndicated Facility Agreement with CoBank, ACB as administrative agent and collateral agent, and the other lenders party thereto. The RCF will replace the Fifth Amended and Restated Credit Agreement, dated as of August 9, 2021. The RCF increased the Company's availability under the revolving loan commitment from $800.0 million to $850.0 million, amended certain covenants, and extended the maturity date of the Company's revolving loan commitments from August 9, 2026 to October 4, 2028.

Additionally, the RCF is unsecured and the assets that previously secured Existing Credit Agreement have now been (or are in the process of being) released. The RCF will be used for general corporate purposes and replaces the Existing Credit Agreement.