JBS’s $1 Billion Notes Offering, Consent Solicitation and Cash Tender Offers

Davis Polk advised the initial purchasers in connection with a $500 million offering of 7.000% senior notes due 2026 by JBS Investments II GmbH and guaranteed by JBS S.A., which were issued pursuant to Rule 144A and Regulation S under the Securities Act.

Barclays, BB Securities, Bradesco BBI, BTG Pactual and Santander acted as Joint-bookrunners on the offering.

Davis Polk also advised the dealer managers in connection with JBS Investments GmbH’s concurrent cash tender offer and consent solicitation for $1 billion of its outstanding 7.750% senior notes due 2020 and with JBS USA Food Company’s cash tender offer for up to $500 million of the 7.250% senior notes due 2021 issued by JBS USA Lux S.A., JBS USA Finance Inc. and JBS USA Food Company.

Headquartered in Brazil, JBS is one of the world’s largest beef, pork and lamb processing companies. JBS processes, packages and delivers fresh, processed and value-added beef, pork, lamb and mutton products to customers in more than 190 countries on six continents.

The Davis Polk corporate team included Manuel Garciadiaz (Picture), Drew Glover, Konstantinos Papadoupolos, Lourenco Lopes-Sabino and Richard Corbett. Jeanine P. McGuinness provided regulatory advice. The tax team included Po Sit and James Manzione.

Involved fees earner: Richard Corbett – Davis Polk & Wardwell; Manuel Garciadiaz – Davis Polk & Wardwell; Drew Glover – Davis Polk & Wardwell; Lourenço Lopes-Sabino – Davis Polk & Wardwell; James Manzione – Davis Polk & Wardwell; Jeanine McGuinness – Davis Polk & Wardwell; Konstantinos Papadopoulos – Davis Polk & Wardwell; Po Sit – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Banco Bradesco BBI S.A.; Barclays Bank; BB Securities Ltd; BTG Pactual;


Author: Ambrogio Visconti.