JBS wins beefy tender response

Beef, Brazil, Marfrig, meatpacker, cow
By Oliver West
07 Aug 2019

Brazilian protein producer JBS will continue its active liability management with the buy-back of $700m of bonds maturing in 2023 and 2024.

Ba3/BB-/BB rated JBS is buying back the bonds as it continues to improve its debt maturity profile and reduce debt levels. Gross debt fell from $16.9bn at the end of the first quarter of 2018 to $14.4bn 12 months later, according to the company’s last results presentation.

JBS’s liability ...

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