Marfrig touts new notes for buyback

Marfrig touts new notes for buyback

Bonds Debt Capital Markets Corporate & Sovereign Strategy Fixed Income Brazil

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

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