Monday, July 13, 2015

JBS rings up more debt

About two weeks after it said it had enough cash on hand to buy Cargill Pork, JBS SA has lined up new credit of $1.2 billion from three banks.

It is paying 2.75 per cent interest on the loan that will go towards the Cargill purchase price of $1.45 billion.

The banks are Credit Suisse AG, Bank of America Merrill Lynch and Rabobank Nederland.


JBS debt will now stand at 2.74 times its earnings before taxes, depreciation and amortization.