Minerva Talks Price

Minerva Talks Price

Brazil Bonds

Brazil’s Minerva is out with mid-to-high 8% initial price talk for what is expected to be a $500m 2023 bond sale, according to people familiar with the process. The transaction could grow in size depending on interest in a cash tender offer the meatpacker plans to fund with the proceeds. Minerva is wrapping up fixed-income investor meetings today, and could price as soon as Thursday. Leads are using Minerva’s 2022 bonds, quoted at 8.15%-8.20% yield, as the most immediate comp. In the tender, the

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