JBS plans to price $750 million 10-year senior notes on Thursday

By Paul A. Harris

Portland, Ore., May 28 - JBS USA, LLC and JBS USA Finance, Inc. are set to price a $750 million offering of 10-year senior notes (existing ratings Ba3/BB) on Thursday, according to a syndicate source.

The company will take part in a conference call with investors at 10 a.m. ET the same day to discuss the deal.

Morgan Stanley & Co. and Wells Fargo Securities LLC are the joint bookrunners for the Rule 144A for life transaction. BMO Securities and Rabobank are the co-managers.

The notes come with five years of call protection.

The Greeley, Colo.-based animal protein processor plans to use the proceeds to redeem its $350 million of 10¼% senior notes due 2016 issued by Bertin Ltda. and $300 million of 10½% senior notes due 2016 issued by JBA SA. It will also use proceeds to repay other JBS SA debt.

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