Darling Ingredients Inc. has announced the offering of €750 million in senior notes by Darling Global Finance B.V. and a proposed entry into a new amended and restated credit agreement. The company intends to use the proceeds from this offering, along with the drawings under the proposed senior secured credit facilities, to redeem €515.0 million of the 3.625% senior notes due 2026 and repay certain existing senior secured credit facilities.
The company operates over 260 facilities in more than 15 countries and processes about 15% of the world’s animal agricultural by-products, produces about 30% of the world’s collagen, and is one of the largest producers of renewable energy.
In terms of financial metrics, the company's revenue has increased by 8% compared to the same period last year, reaching a total of $4.3 billion. Additionally, the net income for the quarter showed a significant growth of 15%, amounting to $232 million. Furthermore, the company's EBITDA margin has also seen a positive change, rising to 18% from 15% in the previous period. Following these announcements, the company's shares moved 9.15%, and are now trading at a price of $36.01. For the full picture, make sure to review DARLING INGREDIENTS INC.'s 8-K report.
