JBS USA ups B loan to $475 million, cuts spread to Libor plus 300 bps

By Sara Rosenberg

New York, May 23 - JBS USA increased its seven-year term loan B to $475 million from $400 million and reduced pricing to Libor plus 300 basis points from the Libor plus 325 bps area, according to a market source.

Also, the 101 soft call protection was extended to one year from six months, the source said.

The 1.25% Libor floor and original issue discount of 99½ were left unchanged.

J.P. Morgan Securities LLC is the lead bank on the deal.

Proceeds will be used to refinance existing debt.

JBS is a Greeley, Colo.-based animal protein processor.

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