JBS USA Extends Term Loan B To $475million
US - As part of the Company’s debt rebalancing process Brazilian beef procesing giant JBS SA's subsidiary JBS USA, LLC has extended its Term B Loan to $475 million with a LIBOR interest rate of + 3.0 per cent, with a seven year maturity.
25 May 2011
1 minute read
The Company opted to expand the initial amount from US$400 million to US$475 million due to demand and because there was an interest rate 25 basis points lower than indicated previously.
The Company is working to finalise an ABL (Asset Based Loan), which should be concluded in the coming weeks, totalling an additional $800 million.
All funds raised will be used to pay down shorter term, higher cost debt at parent company level.
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