JBS USA Opts for Retap

JBS USA Opts for Retap

Brazil Bonds

JBS USA emerged Friday to raise $500m through a reopening of its 7.25% senior unsecured 2021 bond. The Ba3/BB unit of the Brazilian meatpacker reopened the bond at 99.50 to yield 7.33%. Pricing followed 99.0-100.0 price talk. The issuer decided not to issue a new $400m 2021 NC3 bond after going out with initial price thoughts of mid 7%, according to people familiar with the matter, and instead decided to add liquidity to an existing issue. “They already have a 7.25% June 2021 so it did not make

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