January 12, 2021 |
Brazilian beef company Marfrig intends to issue up to $1 billion in global notes and use the proceeds to buy back up to $1.25 billion in outstanding bonds that mature in 2024 and 2025.
The meatpacker will issue the new seven-year notes through MARB BondCo, a subsidiary based in London, with backing from its divisions in Brazil, Europe and the United States, Fitch Ratings said in a report.
Fitch gave the proposed notes a BB rating on Marfrig's "strong market position and geographic diversificatio
Brazilian beef company Marfrig sets up a $1 bln deal to repurchase bonds that mature in 2024 and 2025