Brazil’s Marfrig sets guidance for five-year notes at 7¼% area

By Aleesia Forni and Christine Van Dusen

Virginia Beach, June 10 – Marfrig Holdings (Europe) BV set price guidance for a planned offering of five-year senior notes (B2/B/) in the area of 7¼%, market sources said.

The notes will be guaranteed by Marfrig Global Foods SA and Marfrig Overseas Ltd.

Proceeds will be used to fund a tender offer and to refinance short-term debt.

BTG Pactual, HSBC, Itau BBA and Morgan Stanley are the bookrunners for the Rule 144A and Regulation S without registration rights deal.

The notes will be non-callable for three years and feature a 35% equity clawback and change-of-control put at 101%.

Marfrig is a food processing company based in Sao Paulo.

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