Brazil's Marfrig sets size at benchmark for dollar notes due July 2017

By Christine Van Dusen

Atlanta, Jan. 14 - Marfrig Holdings (Europe) BV has set the size as benchmark for its planned issue of dollar-denominated notes due July 2017 (expected ratings: B2/B+/B+), a market source said.

Bank of America Merrill Lynch, Bradesco BBI, BB Securities and Itau BBA are the bookrunners for the Rule 144A and Regulation S deal.

The notes are expected to price mid-week.

The proceeds will be used to extend the company's debt maturity profile and for general corporate purposes.

The notes include a first call in January 2016 at half of the coupon and a change-of-control put at 101.

The notes are guaranteed by Marfrig Alimentos SA, a food processing company based in Sao Paulo, Brazil.

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