JBS Launches Bond Consent Offer

JBS has launched a consent solicitation to modify indentures on $275m in 9.375% of 2011 bonds and $300m in 10.50% of 2016 bonds. The Brazilian beef producer is paying $25 per $1,000 to holders of the 2011 and $40 per $1,000 to holders of 2016s, in an offer launched Friday that expires August 13. JBS has become the world’s largest beef exporter through international acquisitions and the offer is part of a move to reorganize the debt structure to better suit incorporation of international assets. ING, Santander and UBS are managing the operation.