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GREELEY, Colo., May 01, 2019 (GLOBE NEWSWIRE) -- JBS USA Lux S.A. (“JBS USA”) announced today the closing of its new senior secured term loan in an aggregate principal amount of US$1.9 billion (the “New Term Loan”), with an interest rate of LIBOR plus 2.50% per annum. The New Term Loan matures on May 1, 2026.
In addition, JBS USA announced the closing of US$700 million in aggregate principal amount of additional senior notes (the “Notes”), consisting of additional (i) 5.875% senior notes due 2024 in an aggregate principal amount of US$150 million, (ii) 5.750% senior notes due 2025 in an aggregate principal amount of US$150 million and (iii) 6.500% senior notes due 2029 in an aggregate principal amount of US$400 million. Following the closing of the Notes, JBS USA has (x) US$900 million in aggregate principal amount of 5.875% senior notes due 2024, (y) US$1.05 billion in aggregate principal amount of 5.750% senior notes due 2025 and (z) US$1.4 billion in aggregate principal amount of 6.500% senior notes due 2029.
JBS USA used the net proceeds from the offering of the New Term Loan and the Notes, together with cash on hand, to repay all amounts outstanding under its existing term loan.
This press release is neither an offer to purchase nor a solicitation of an offer to sell or buy any Notes. There shall not be any offer, solicitation or sale of the Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
Important Notice Regarding Forward-Looking Statements
This press release contains certain forward-looking statements. Statements that are not historical facts, including statements about our perspectives and expectations, are forward looking statements. The words “expect,” “believe,” “estimate,” “intend,” “plan” and similar expressions, when related to JBS USA and its subsidiaries, indicate forward-looking statements. These statements reflect the current view of management and are subject to various risks and uncertainties. These statements are based on various assumptions and factors, including general economic, market, industry and operational factors. Any changes to these assumptions or factors may lead to practical results different from current expectations. Forward-looking statements relate only to the date they were made and JBS USA undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made.
About JBS USA
JBS USA is a leading processor of beef and pork in the United States, the number one processor of beef in Australia in terms of daily slaughtering capacity, and the number two processor of chicken in the U.S. and U.K. through its subsidiary, Pilgrim’s Pride Corporation. JBS USA processes, prepares, packages and delivers fresh, processed and value-added beef, pork, chicken, and lamb products for sale to customers in the United States and international markets. In addition to the U.S. and Australia, JBS USA has processing facilities in Canada (beef), Europe (chicken) and Mexico (chicken). JBS USA is an indirect wholly owned subsidiary of JBS S.A., the world’s largest animal protein producer.
|Director, Investor Relations|