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JBS to Raise $275.0 million in Notes Offering

11 April 2013

BRAZIL - Brazilian meat proccessing company JBS SA has reopened its senior unsecured notes offering that are due 2023, as announced on 30 January 30.

The notes have been priced at $275.0 million with a yield of 6.25 per cent, through its Austrian wholly-owned subsidiary, ESAL GmbH (JBS Austria). The Notes will be guaranteed by JBS S.A. and JBS Hungary Holdings Kft.

The yield of 6.25 per cent is better than the previous offering and represents an all-time low for the company. The book building represented a 3 times oversubscription.

This offering has a BB rating from Standard & Poors and BB- with stable perspective from Fitch Ratings. Fitch Ratings' perspective was upgraded this week from negative to stable.

JBS intends to use the net proceeds from this offering to extend its debt maturity profile by refinancing a portion of its outstanding short-term debt and for general corporate purposes

The company said the closing of this offering will improve the overall debt profile of JBS and reduce its financial costs, and ultimately bring more value to its shareholders

TheMeatSite News Desk

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