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JBS Prices Through Curve

Jan 30, 2013

Brazil’s JBS has raised $500m from the bond market, issuing at the upper reaches of an anticipated $300m-$500m range and pricing through its curve. The B1/BB minus meatpacker had $2.5bn in orders from about 190 accounts, according to people following the sale. The 2023 NC5 priced at 98.183 with a 6.250% coupon to yield 6.500%, the tight end of 6.500%-6.625% guidance that followed high 6%-area talk. The deal was seen coming...

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