JBS USA to Raise Funds for Parent

JBS USA has started roadshows ahead of a $400m 8-year NC3 bond. The B1/BB rated US subsidiary of the Brazilian meatpacker is scheduled to price in the middle of next week, after meeting US accounts. JBS USA is raising funds to repay debt at the parent level. “JBS US paper has been trading pretty tight to Brazil paper,” notes one syndicate official. Banco do Brasil, JPMorgan, Santander, Rabobank and Wells Fargo are managing the sale.