Exhibit 99.1
Darling Ingredients Inc. Announces Pricing of Private Offering of $500 Million of Unsecured Senior Notes due 2027.
IRVING, Texas, March 28, 2019 — Darling Ingredients Inc. (NYSE: DAR) (“Darling” or the “Company”) today announced that it has priced a private offering of $500 million in aggregate principal amount of its 5.25% unsecured senior notes due 2027 (the “Notes”). The Notes were priced at 100% of their face amount. The offering is expected to close on April 3, 2019, subject to the satisfaction of customary closing conditions.
The gross proceeds from the offering of the Notes, together with cash on hand, are expected to be used to refinance all of the Company’s 5.375% Senior Notes due 2022 by cash tender offer for those notes, and, if and to the extent necessary, redemption of those notes, and to pay any applicable premiums for the refinancing, to pay the discount of the initial purchasers of the Notes and to pay the other fees and expenses related to the offering of the Notes. The Notes will be offered in the United States to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and outside the United States tonon-U.S. persons in reliance on Regulation S under the Securities Act. The Notes will not be registered under the Securities Act or any state securities laws and, unless so registered, may not be offered or sold in the United States except pursuant to an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws.
This media release shall not constitute an offer to sell or the solicitation of an offer to buy the Notes, nor shall there be any offer to sell, solicitation of an offer to buy or sale of the Notes, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.
About Darling
Darling Ingredients Inc. is a global developer and producer of sustainable natural ingredients from edible and inediblebio-nutrients, creating a wide range of ingredients and specialty solutions for customers in the pharmaceutical, food, pet food, feed, technical, fuel, bioenergy, and fertilizer industries. With operations on five continents, the Company collects and transforms all aspects of animalby-product streams into useable and specialty ingredients, such as collagen, edible fats, feed-grade fats, animal proteins and meals, plasma, pet food ingredients, organic fertilizers, yellow grease, fuel feedstocks, green energy, natural casings and hides. The Company also recovers and converts recycled oils (used cooking oil and animal fats) into valuable feed and fuel ingredients and collects and processes residual bakery products into feed ingredients. In addition, the Company provides environmental services, such as grease trap collection and disposal services to food service establishments. The Company sells its products domestically and internationally and operates within three industry segments: Feed Ingredients, Food Ingredients and Fuel Ingredients.