By Rebecca Melvin
New York, Jan. 11 – Marfrig BondCo plc, a subsidiary of Marfrig Global Foods SA, priced $1 billion of seven-year senior notes (B+/BB-) on Thursday at 98.641 of par for a yield of 7 1/8%, according to a market source.
The notes are non-callable for three years.
The Rule 144A and Regulation S notes were sold via bookrunners BB Securities Ltd., Banco Bradesco BBI SA, Banco BTG Pactual, HSBC Securities, Nomura Securities International and Santander Investment Securities.
Proceeds will be used for liability management and for funding the tender offer for its outstanding notes due in 2018 and 2019.
Marfrig is a Sao Paulo-based food processing company.
| Issuer: | Marfrig BondCo plc
|
| Guarantor: | Marfrig Global Foods SA
|
| Amount: | $1 billion
|
| Maturity: | Jan. 19, 2025
|
| Description: | Senior notes
|
| Bookrunners: | BB Securities Ltd., Banco Bradesco BBI SA, Banco BTG Pactual, HSBC Securities, Nomura Securities International and Santander Investment Securities
|
| Coupon: | 6 7/8%
|
| Price: | 98.641
|
| Yield: | 7 1/8%
|
| Call: | Non-callable for three years
|
| Trade date: | Jan. 11
|
| Settlement date: | Jan. 19
|
| Ratings: | S&P: B+
|
| Fitch: BB-
|
| Distribution: | Rule 144A and Regulation S
|
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