JBS USA increases incremental term loan size to $500 million

By Sara Rosenberg

New York, May 25 – JBS USA Lux SA upsized its incremental term loan due Oct. 30, 2022 to $500 million from $450 million, according to a market source.

Pricing on the loan is Libor plus 250 basis points with a 0.75% Libor floor and an original issue discount of 99.04.

The term loan has 101 soft call protection for six months.

Also during syndication, the company firmed pricing on the term loan at the low end of the Libor plus 250 bps to 275 bps talk and tightened the discount from 99.

Barclays is the sole lead arranger on the deal and a bookrunner with BMO Capital Markets Corp., RBC Capital Markets LLC, SunTrust Robinson Humphrey Inc. and U.S. Bank.

Allocations went out on Thursday.

Proceeds will be used to repay revolving credit facility borrowings and for general corporate purposes.

Closing is expected on May 31, the source added.

JBS is a Greeley, Colo.-based animal protein products processing company.

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