Brazil’s JBS, JBS USA Lux receive requisite consents for five series

Chicago, June 30 – JBS SA and JBS USA Lux SA announced the expiration of, and the receipt of requisite consents, in connection with the consent solicitations for five series of notes, according to a press release.

The consent solicitations expired at 5 p.m. ET on July 29.

JBS SA was seeking consents regarding its 7% senior notes due 2026 and 5¾% senior notes due 2028, issued by JBS USA Food Co. And JBS USA Lux was soliciting consents from holders of its 6¾% senior notes due 2028, 6½% senior notes due 2029 and 5½% senior notes due 2030, issued JBS USA Lux, JBS USA Finance, Inc. and JBS USA Food.

Consenting holders will receive a cash payment equal to $1.25 per $1,000 principal amount of notes, expected to be paid on July 7.

Previously reported, JBS SA was seeking amendments to conform some provisions and restrictive covenants of the indentures governing its notes to the corresponding provisions and restrictive covenants of the indenture governing JBS Finance Luxembourg Sarl’s 3 5/8% sustainability-linked senior notes due 2032.

JBS USA Lux was seeking amendments to conform provisions and restrictive covenants of the indentures governing its notes to the corresponding provisions and restrictive covenants set forth in the indenture governing JBS USA Lux’s 3¾% senior notes due 2031.

For each series, holders representing a majority of the aggregate principal amount of that series were required to approve the applicable amendments, and each consent solicitation constituted separate and distinct solicitations.

JBS USA Lux was also seeking a substantially similar conforming amendment from its lenders under a May 27, 2011 term loan credit agreement among JBS USA Lux, Barclays Bank plc as administrative agent and the lenders; and a revolving syndicated facility agreement dated Oct. 12, 2018, among JBS USA Lux, JBS USA Food, JBS Australia Pty. Ltd. and JBS Food Canada ULC, the lenders and Royal Bank of Canada as administrative agent, Australian administrative agent and Canadian administrative agent.

Barclays (800 438-3242 or 212 528-7581) is the solicitation agent. D.F. King & Co., Inc. (800 967-7574, 212 269-5550 or jbs@dfking.com) is the information agent for each consent solicitation.

JBS is a Sao Paulo, Brazil-based meat processing company. Subsidiary JBS USA is based in Greeley, Colo.

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