JBS cancels tender

JBS cancels tender

Bonds Equity

Brazilian protein company JBS has canceled a tender offer to buy back its $350m 10.25% 2016 bonds, following its decision last week to postpone the issuance of a new bond. JBS postponed plans to sell a bond through its wholly owned subsidiary JBS USA on May 29, saying it wanted to find a new bookrunner. Morgan Stanley and Wells Fargo had been mandated for both the bond sale and the tender offer, according to sources. Several sources following the transaction said JBS had dropped Morgan Stanley a

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