August 8, 2019
Brazil's JBS said bondholders tendered $862m in outstanding notes by the early deadline of its latest bond buyback on August 6.
The meat company was looking to buy back all $750m in 7.25% 2024 notes and up to $350m in 6.25% 2023 notes, offering to pay bondholders $1,022 for every $1,000 in 2023s and $1,040 for the 2024s.
Noteholders, in turn, offered $449m in 2024s, but exceeded the cap with $413m in 2023s, JBS said in a statement.
JBS sold $750m in new 2028 notes last month to cover part of
Bondholders offer $862m in 2023 and 2024 notes in the Brazilian meatpacker's latest liability management exercise