JBS raises bond issue to $700M
Jan. 26, 2012
by Meat&Poultry Staff
GREELEY, Colo. – JBS USA will issue $700 million rather than $400 million in bonds, the company announced on Jan. 25.
JBS USA, a subsidiary of Brazilian meat packer JBS SA, will issue the debt. The bonds will pay 8.25 percent interest with a yield of 8.5 percent, according to the Northern Colorado Business Report. JBS SA announced on Jan. 18 that its subsidiaries would sell $400 million in bonds to improve the company's debt profile.
At that time, the company said the money would be used to pay down short-term debt as part of a debt re-balancing plan. The company did not give details about the banks involved.