JBS USA sets spread on $468 million term loan B at Libor plus 275 bps

By Sara Rosenberg

New York, Feb. 15 - JBS USA LLC firmed pricing on its roughly $468 million term loan B due May 2018 at Libor plus 275 basis points, the wide end of the Libor plus 250 bps to 275 bps talk, according to a market source.

Also, the Libor floor on the loan was increased to 1% from 0.75% and the 101 soft call protection was extended to one year from six months, the source said.

The loan still has a par offer price.

Recommitments were due by 5 p.m. ET on Friday.

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

Proceeds will be used to refinance an existing term loan B due May 2018.

JBS is a Greeley, Colo.-based processor of beef, pork and lamb.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.