The company said it would use the proceeds of the buyback to fund a tender offer of the 11.625 percent senior notes, which will be due in 2014, the company said. JBS USA and JBS USA Finance will issue the senior notes. The company said any funds left will be used for general corporate purposes.
JBS USA is a wholly owned subsidiary of Sáo Paulo, Brazil-based JBS SA. JBS USA is a leading processor of beef, pork and lamb. The company has customers in more than 70 countries.