SÃO PAULO, Brazil – JBS S.A. approved the sale of 500 million reais ($235 million) in debentures. The securities will be offered in three series starting July 15 in R1,000 ($469) each, according to a filing with CVM, Brazil's securities and exchange commission.

The first series will be repaid at Brazil's DI interbank rate, plus up to 1.5 percent, according to JBS. The second and third series will be repaid at rates of 5.9 percent and 6.5 percent respectively.

Bradesco, Banco do Brasil, BTG Pactual and HSBC will manage the sale pending approval by the CVM.