Marfrig buyback oversubscribed

Marfrig buyback oversubscribed


Brazilian food company Marfrig will pro-rate submissions on a cash tender offer for its 11.25% $400m 2021 bond and its 9.875% $600m 2017, after investors put in more than the $130m buyback cap. Investors holding 14.28% — $57m — of the 2021 and 27.67% — $166m — of the 2017 submitted their bonds to the buyback. Marfrig had offered to pay a cash price of 107.5 for the 2021 and 105 for the 2017 in the offer that expired on Wednesday. The prices included a 3.5 early participation sweetener. The buyba

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