April 3, 2019 |
Brazil's JBS said has lowered its funding costs on a $500m reopening of its 2026 notes and replaced its 2021 bonds with new 10-year debt at a lower rate.
JBS Investments, a subsidiary of the São Paulo-based meat company, priced the retap to yield 6.72% as orders reached four times the initial expected amount. The company first sold the seven-year bonds with a 7% coupon to yield 7.125% in October last year.
JBS USA, based in Colorado, issued $1bn in new notes at 6.5% and set aside the proceeds to
Brazilian meat company shaves 28bp off its 2026 notes and replaces its 7.25% 2021s with new 10-year debt at 6.5%