JBS raises $750M from bond issue
April 1, 2014
by Meat&Poultry Staff
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SÃO PAULO, Brazil – JBS SA raised $750 million in an overseas bond issue, the company announced March 31. JBS plans to use the proceeds from the offering to pay down the company's debt.
The company issued the bonds through its subsidiary, JBS Investments GmbH. The notes are due in 2024 and carry a coupon of 7.25 percent. JBS said the order book was closed at 12 pm Eastern with strong demand. More than 200 investors participated in the offering, while demand was six times the target size, JBS noted.