JBS Sells Converts to BNDESPar

Meatpacker JBS has raised BRL2.27bn through the sale of 1.3m convertible debentures to BNDESPar, the equity arm of Brazil’s development bank. The company does not specify terms on the notes. Starting today, it will begin distributing the remainder of the bonds that were not placed with the BNDES, which includes 697m debentures. It does not state which investors will participate in the deal.