JBS to sell $400 million in bonds to raise cash

by Editor fleischwirtschaft.com
Thursday, April 16, 2009

JBS USA, LLC and JBS USA Finance, Inc., subsidiaries of JBS S.A., announced that they are offering, $400 million in bonds to raise cash amid an international credit crisis.

Through this offering, the Company intends to balance debt with revenue geographically and improve its short term liquidity, it says in a statement. The offering also intends to increase the cash position of the Company. The Senior Notes will be offered and sold to qualified institutional buyers in the United States pursuant to Rule 144A and outside the United States pursuant to Regulation S under the Securities Act of 1933. The sale of the notes is expected to be consummated in April 2009, subject to market and other customary conditions.

The notes have not been registered under the U.S. Securities Act of 1933 or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act of 1933 and applicable state laws.

JBS S.A. is currently the world's largest beef producer and exporter with a daily harvesting capacity of 65.7 thousand heads of cattle and the largest global exporter of processed beef.