When JBS agreed to buy the Seara poultry and pork unit in
Brazil from Marfrig in June 2013, it took on a huge debt pile.
A month earlier, it had agreed to buy a similar operation for
200 million reais ($90 million) from Brasil Foods.
Brazilian corporate with the best capital markets strategy
Taking refinancing chances when they arise has kept debt costs under control amid hefty acquisitions
Seara saw JBS assuming 5.85 billion reais ($2.73 billion) of
Yet the company has since done a number of transactions to
get its debt under control. That includes two new bond sales, a
reopening and a tender offer.
JBS and its competitors - including Marfrig and Brasil Foods
- have all made efforts to take advantage of low yields on
offer in the bonds markets, to refinance debt. But it is JBS's
persistence in the bond markets and its aggressive leverage
reduction that has earned it this award for the year...
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