Exhibit 99.1
OR IMMEDIATE RELEASE
| June 16, 2025 |
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Darling Ingredients Inc. announces offering of €750 Million of senior notes by Darling Global Finance B.V. and proposed entry into a new amended and restated credit agreement
IRVING, Texas, June 16, 2025 — Darling Ingredients Inc. (NYSE: DAR) (“Darling” or the “Company”), the world’s leading company turning food waste into sustainable products and producer of renewable energy, today announced that Darling Global Finance B.V. (the “Issuer”), an indirect, wholly owned subsidiary of the Company incorporated as a private company with limited liability (besloten vennootschap met beperkte aansprakelijkheid) under Dutch law, has launched an offering of €750 million in aggregate principal amount of its senior notes (the “notes”). In addition, the Company announced that it intends to amend and restate its Second Amended and Restated Credit Agreement, dated as of January 6, 2014 (as amended from time to time), pursuant to a Third Amended and Restated Credit Agreement.
The notes will be guaranteed by the Company and the Company’s restricted subsidiaries that will be borrowers under or that will guarantee the Company’s senior secured credit facilities under the proposed Third Amended and Restated Credit Agreement, other than foreign subsidiaries, receivables entities and certain other subsidiaries. The offering is subject to market and other conditions.
The Company intends to use the proceeds from the offering of the notes, together with the drawings under the proposed senior secured credit facilities, to (i) redeem the Issuer’s €515.0 million principal amount of the 3.625% Senior Notes due 2026 issued under the indenture dated May 2, 2018 and repay certain of the existing senior secured credit facilities; and (ii) pay costs, fees and expenses related to the refinancing, including applicable premiums for the refinancing and the issuance discount for the initial purchasers.
The notes and related guarantees will not be registered under the U.S. Securities Act of 1933, as amended (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. Accordingly, the notes and related guarantees will be offered in the United States only to persons reasonably believed to be “qualified institutional buyers” in reliance on Rule 144A under the Securities Act, and outside the United States to non-U.S. persons in reliance on Regulation S under the Securities Act.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the notes and related guarantees, nor shall there be any offer to sell, solicitation of an offer to buy or sale of the notes and related guarantees, 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
A pioneer in circularity, Darling Ingredients Inc. takes material from the animal agriculture and food industries, and transforms them into valuable ingredients that nourish people, feed animals and crops, and fuel the world with renewable energy. 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 (both gelatin and hydrolyzed collagen), and is one of the largest producers of renewable energy. To learn more, visit darlingii.com.
Cautionary Statements Regarding Forward-Looking Information:
This announcement includes “forward-looking statements,” which include information concerning potential refinancing transactions that the Company may enter into and other information that is not historical information.