- Darling Ingredients Inc 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.
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