By Aleesia Forni and Christine Van Dusen
Virginia Beach, June 11 – Marfrig Holdings (Europe) BV priced $850 million of 6 7/8% five-year senior notes (B2/B/) at par on Tuesday, according to an informed source.
The notes will be guaranteed by Marfrig Global Foods SA and Marfrig Overseas Ltd.
Proceeds will be used to fund a tender offer and to refinance short-term debt.
BTG Pactual, HSBC, Itau BBA and Morgan Stanley were the bookrunners for the Rule 144A and Regulation S without registration rights deal.
Marfrig is a food processing company based in Sao Paulo.
Issuer: | Marfrig Holdings (Europe) BV
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Guarantor: | Marfrig Global Foods SA, Marfrig Overseas Ltd.
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Amount: | $850 million
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Description: | Notes
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Maturity: | June 24, 2019
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Bookrunners: | BTG Pactual, HSBC, Itau BBA, Morgan Stanley
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Coupon: | 6 7/8%
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Price: | Par
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Yield: | 6 7/8%
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Trade date: | June 10
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Settlement date: | June 24
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Change-of-control put: | 101%
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Equity clawback: | 35%
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Ratings: | Moody’s: B2
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| Standard & Poor's: B
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Price talk: | 7¼% area
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Distribution: | Rule 144A, Regulation S
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