Darling Ingredients completes redemption of 2026 senior notes and ends indenture

Darling Ingredients Inc. (NYSE:DAR), currently trading at $38.18 and showing strong financial health according to InvestingPro analysis, announced Tuesday that its subsidiary, Darling Global Finance B.V., has redeemed all outstanding 3.625% Senior Notes due 2026. The notes were originally issued under a Senior Notes Indenture dated May 2, 2018, with Citibank, N.A., London Branch, serving as trustee.

According to a statement included in a Securities and Exchange Commission filing, the redemption took place on June 26. The company, with a market capitalization of $6.04 billion and a healthy current ratio of 1.4, elected to satisfy and discharge the indenture in accordance with its terms. The trustee acknowledged the satisfaction and discharge of the indenture on Tuesday.

As a result of this action, Darling Ingredients Inc., its subsidiary, and other parties to the indenture have been released from their remaining obligations under the agreement, except for those obligations that are specified to survive the satisfaction and discharge.

A summary and copy of the original indenture are available as exhibits to a previous Form 8-K filed by Darling Ingredients Inc. with the SEC on May 2, 2018.

This information is based on a press release statement included in the company’s SEC filing.

In other recent news, Darling Ingredients Inc. reported its first-quarter 2025 earnings, revealing a notable miss on both earnings per share (EPS) and revenue expectations. The company posted an EPS of -$0.16, significantly below the forecast of $0.41, and reported revenue of $1.38 billion, falling short of the anticipated $1.45 billion. Additionally, Darling Ingredients announced the pricing of €750 million in senior notes due 2032, with proceeds aimed at refinancing existing debt and covering related costs. This financial maneuver is expected to maintain the company’s blended cost of debt while extending the term of the notes.

In a strategic move, Darling Ingredients has also expanded with a dual listing on NYSE Texas, aiming to attract a broader investor base. Despite recent challenges, the company has been actively reducing its debt, paying down $146.2 million in the first quarter. Analyst feedback from Bloomberg Intelligence suggests potential industry difficulties due to proposed policy changes, although Darling Ingredients continues to focus on improving margins and operational efficiency. Furthermore, the company updated its bylaws to revise shareholder action procedures, reflecting ongoing corporate governance adjustments. These developments indicate a dynamic period for Darling Ingredients, with efforts to navigate financial and regulatory landscapes.

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