The Firm recently represented BB Securities Limited, Banco Bradesco BBI S.A., Banco BTG Pactual S.A. – Cayman Branch, J.P. Morgan Securities LLC and Santander Investment Securities Inc., as initial purchasers, in a sale of US$1.0 billion of 7.75% Senior Notes due 2020 issued by JBS Investments GmbH and unconditionally guaranteed by its parent company JBS S.A., a Brazilian corporation, and JBS Hungary Holdings Kft., a wholly owned subsidiary of JBS S.A. The offering was conducted in reliance upon Rule 144A and Regulation S.
JBS S.A. is the world’s largest protein company and the world’s largest beef producer and exporter. JBS processes, prepares, packages and delivers fresh and further processed and value-added beef, pork, lamb and poultry products in approximately 170 countries on six continents. JBS has operations in the United States, Brazil, Australia, Argentina, China, Italy, Mexico, Paraguay and Uruguay. JBS intends to use the net proceeds from the offering extend its debt maturity profile by refinancing a portion of its outstanding short-term debt and for general corporate purposes.
The Simpson Thacher team for the transaction included, among others, Grenfel S. Calheiros, John C. Ericson, Karen Wang, Gustavo Silva Cano (Capital Markets), and Jonathan Cantor and Michael Cardella (Tax).
