BRF Launches Tender

BRF Launches Tender

Brazil Bonds

Brasil Foods (BRF) has launched an offer to exchange up to $150m principal in two series of existing bonds for new 3.95% 2023 bonds, it says. The meat and poultry company is targeting the 6.875% 2017 bonds issued by the Sadia Overseas unit and BFF International’s 7.250% bonds. The 2017s will be given priority. Holders tendering 2017 bonds will receive $1,000 in new 2023s, plus $140.25 in cash, with holders accepting before a June 4 early acceptance date getting an additional $30.00 cash. Holders

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