JBS raises bond issue to $700M

by Meat&Poultry Staff
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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.

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