Minerva eyes Wednesday pricing after triple upgrade

Brazil, BRF, food, restaurants, LatAm, 575, protein
By Oliver West
02 Mar 2021

South America’s largest beef exporter, Minerva, will look to price a new 10 year non-call five bond on Wednesday as part of a liability management exercise that will be debt-neutral or debt-negative.

Bradesco, BTG Pactual, HSBC, Itaú, JP Morgan, Santander and XP Investimentos are holding investor calls for Ba3/BB/BB rated Minerva, which wants to sell up to $1bn of 2031 notes to finance a tender offer for its $1.203bn of 6.5% 2026s. Investors calls began on Monday ...

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